Md. Code, Commercial Law § 12-1302
This is the official text of Md. Code, Commercial Law § 12-1302, part of Maryland’s Code, Commercial Law — governs commercial transactions - Maryland's version of the Uniform Commercial Code.
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§12–1302.
Official statutory text
(a) This subtitle applies to any lender that makes a mortgage loan secured by owner–occupied residential real property located in the State.
(b) This subtitle does not apply to:
(1) A secondary mortgage loan;
(2) An open–end or revolving home equity line of credit;
(3) A construction loan;
(4) An individual who takes back a deferred purchase money mortgage in connection with the sale of residential real property owned by, and titled in the name of, the individual; or
(5) An individual who makes a mortgage loan to a borrower who is the individual’s spouse, child, child’s spouse, parent, sibling, grandparent, grandchild, or grandchild’s spouse.
(b) This subtitle does not apply to:
(1) A secondary mortgage loan;
(2) An open–end or revolving home equity line of credit;
(3) A construction loan;
(4) An individual who takes back a deferred purchase money mortgage in connection with the sale of residential real property owned by, and titled in the name of, the individual; or
(5) An individual who makes a mortgage loan to a borrower who is the individual’s spouse, child, child’s spouse, parent, sibling, grandparent, grandchild, or grandchild’s spouse.
Status: in_force · Read it on the official government site
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