Section 5-207 - Loan - Documents. - Maryland Statutes

§ 5-207. Loan - Documents.
 

(a)  Preparation by Department.- The Department shall prepare the loan documents for loans under this subtitle. 

(b)  Contents.- The loan documents shall include: 

(1) the interest rate on the loan; 

(2) the amount of the loan; 

(3) repayment provisions for the loan; and 

(4) any other provision that the Department determines is necessary, including a provision on taking liens and security interests in real or personal property. 
 

[An. Code 1957, art. 83A, § 6-509(b), (c)(1)-(4); 2008, ch. 306, § 2.]