Md. Code, Commercial Law § 12-902
This is the official text of Md. Code, Commercial Law § 12-902, part of Maryland’s Code, Commercial Law — governs commercial transactions - Maryland's version of the Uniform Commercial Code.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§12–902.
Official statutory text
(a) Any credit grantor may, subject to the other provisions of this subtitle:
(1) Offer and extend credit under a revolving credit plan to a borrower and in that connection charge and collect the interest, finance charges, and other charges permitted by this subtitle;
(2) (i) Take any security as collateral as may be acceptable to the credit grantor.
(ii) If real property is taken as security, the credit grantor shall record the entire line of credit when the credit plan is established.
(b) Without limiting subsection (a) of this section, credit may be extended under a revolving credit plan by a credit grantor’s acquisition of obligations arising out of the honoring of a credit device made available to a borrower under a plan, whether directly or indirectly by means of telephone, point of sale terminal, automated teller machine or other electronic or similar device, or through the mails, by:
(1) A merchant;
(2) A bank or other financial institution chartered or organized under the laws of this or any other state, the District of Columbia, the United States or any district, territory, or possession of the United States, or any foreign country;
(3) Any other person or entity; or
(4) A government or governmental subdivision or agency.
(1) Offer and extend credit under a revolving credit plan to a borrower and in that connection charge and collect the interest, finance charges, and other charges permitted by this subtitle;
(2) (i) Take any security as collateral as may be acceptable to the credit grantor.
(ii) If real property is taken as security, the credit grantor shall record the entire line of credit when the credit plan is established.
(b) Without limiting subsection (a) of this section, credit may be extended under a revolving credit plan by a credit grantor’s acquisition of obligations arising out of the honoring of a credit device made available to a borrower under a plan, whether directly or indirectly by means of telephone, point of sale terminal, automated teller machine or other electronic or similar device, or through the mails, by:
(1) A merchant;
(2) A bank or other financial institution chartered or organized under the laws of this or any other state, the District of Columbia, the United States or any district, territory, or possession of the United States, or any foreign country;
(3) Any other person or entity; or
(4) A government or governmental subdivision or agency.
Status: in_force · Read it on the official government site
Dealing with a business matter in Maryland?
See all Maryland Business lawyers
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.