Md. Code, Commercial Law § 14-1701
This is the official text of Md. Code, Commercial Law § 14-1701, part of Maryland’s Code, Commercial Law — governs commercial transactions - Maryland's version of the Uniform Commercial Code.
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§14–1701.
Official statutory text
(a) In this subtitle the following terms have the meanings indicated.
(b) (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” means file as defined in § 14–1201(h) of this title.
(d) “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.
(b) (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” means file as defined in § 14–1201(h) of this title.
(d) “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.
Status: in_force · Read it on the official government site
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