Section 13-101 - Definitions. - Maryland Statutes

§ 13-101. Definitions.
 

(a)  In general.- In this title the following words have the meanings indicated. 

(b)  Credit health insurance.- "Credit health insurance" means insurance on a debtor that provides indemnity for payments that are due on a specific loan or other credit transaction while the debtor is disabled as defined by the policy. 

(c)  Credit involuntary unemployment benefit insurance.- "Credit involuntary unemployment benefit insurance" means insurance on a debtor that provides indemnity for payments that are due on a specific loan or other credit transaction while the debtor is involuntarily unemployed as defined by the policy. 

(d)  Credit life insurance.- "Credit life insurance" means insurance on the life of a debtor in connection with a specific loan or other credit transaction. 

(e)  Creditor.- "Creditor" means: 

(1) a lender of money or vendor or lessor of goods, services, or property rights or privileges for which payment is arranged through a credit transaction; 

(2) a successor to the right, title, or interest of the lender, vendor, or lessor; 

(3) an affiliate, associate, subsidiary, director, officer, or employee of the lender, vendor, or lessor; or 

(4) any other person in any way associated with the lender, vendor, or lessor. 

(f)  Debtor.-  

(1) "Debtor" means a borrower of money or purchaser or lessee of goods, services, or property rights or privileges for which payment is arranged through a credit transaction. 

(2) "Debtor" includes the husband or wife or both, as specified in the certificate of insurance, if the husband and wife are jointly liable under a contract of indebtedness. 

(g)  Indebtedness.- "Indebtedness" means the total amount payable by a debtor to a creditor in connection with a loan or other credit transaction. 
 

[An. Code 1957, art. 48A, § 436C; 1996, ch. 11.]