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§ 12-913. Construction with other laws

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, § 12-913
§ 12-913. Construction with other laws
Currentness
(a) Unless otherwise provided under the express terms of the agreement governing a revolving credit plan, the provisions of Subtitle 1, 3, 4, 5, 6, or 10 of this title do not apply to any extension of credit made pursuant to a revolving credit plan if:
(1) The plan is established before October 1, 1993; and
(2) The extension of credit is made under this subtitle before October 1, 1993.
(b) For the purposes of subsection (a) of this section, an extension of credit is made under this subtitle if:
(1) The credit grantor has made a written election to do so in the agreement governing the plan; or
(2) The agreement governing the plan is offered pursuant to the provisions of this subtitle.
(c) For the purposes of subsection (a) of this section, if there is no written election to extend credit under this subtitle in the agreement governing the plan, the burden of proof is on the credit grantor to show the agreement governing the plan was offered pursuant to this subtitle.
(d) Any plan established before October 1, 1993 is not subject to § 12-913.2 of this subtitle.

Credits

Added by Acts 1983, c. 143, § 1, eff. July 1, 1983. Amended by Acts 1989, c. 476, § 1; Acts 1993, c. 404, §§ 1, 2.
MD Code, Commercial Law, § 12-913, MD COML § 12-913
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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