Section 14-1701 - Definitions. - Maryland Statutes

§ 14-1701. Definitions.
 

(a)  In general.- In this subtitle the following terms have the meanings indicated. 

(b)  Adverse action.-  

(1) "Adverse action" means a denial or revocation of credit, a change in the terms of an existing credit arrangement, or a refusal to grant credit in substantially the amount or on substantially the terms requested. 

(2) "Adverse action" does not include a refusal to extend additional credit under an existing credit arrangement where the applicant is delinquent or otherwise in default, or where such additional credit would exceed a previously established credit limit. 

(c)  File.- "File" means file as defined in § 14-1201 (g) of this title. 

(d)  Lender; credit grantor.- "Lender" or "credit grantor" means: 

(1) Any lender or credit grantor regulated under Title 12 of this article; or 

(2) A credit union making a loan under § 6-601 (e) of the Financial Institutions Article. 
 

[1985, ch. 669; 1986, ch. 5, § 1; 2001, ch. 147, § 9; ch. 148, § 9.]