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§ 12-906. Different terms, loans and purchases

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 12. Credit Regulations
Subtitle 9. Credit Grantor Revolving Credit Provisions (Refs & Annos)
MD Code, Commercial Law, § 12-906
§ 12-906. Different terms, loans and purchases
Currentness
(a) If the agreement governing a revolving credit plan permitting the borrower to obtain both loans and purchases so provides, a credit grantor may impose different terms on the indebtedness arising out of purchases than to the indebtedness arising out of loans.
(b) Subsection (a) of this section applies to all terms, including:
(1) The terms governing the periodic percentage rate used to calculate interest or finance charges;
(2) The method of computing the outstanding unpaid indebtedness to which the periodic percentage rate is applied;
(3) The amounts of other charges; and
(4) The applicable repayment schedule.

Credits

Added by Acts 1983, c. 143, § 1, eff. July 1, 1983.
MD Code, Commercial Law, § 12-906, MD COML § 12-906
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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