reglab/housing_qa huggingface dataset:
MD. Commercial Law Code Ann. §  12-316.1 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 3 - Consumer Loans -- Credit Provisions|Section 12-316.1 - Penalty -- Reliance Upon Written Opinions

    (a)    A licensee or a person exempt from licensing under this subtitle is not subject to a penalty involving the forfeiture of interest or principal for a violation that arises because the licensee or person exempt from licensing in good faith:        (1)    Performed or omitted to perform an act in conformity with or in reliance upon:            (i)    A written opinion of the Attorney General of Maryland or a regulation adopted by the Commissioner;            (ii)    A written opinion by the Commissioner given on request of the licensee or person exempt from licensing; or            (iii)    An interpretation by the Commissioner in a written notice or examination report; or        (2)    Used a form or procedure that has been approved in writing by the Commissioner and the Attorney General.    (b)    The provisions of subsection (a) of this section do not apply to an act or omission to act that occurs after:        (1)    The opinion, regulation, or interpretation relied on is amended, repealed, or determined to be invalid for any reason by any judicial or other authority; or        (2)    Approval for a form or procedure is amended, rescinded, or determined to be invalid for any reason by any judicial or other authority.    (c)    This section may not be construed to:        (1)    Limit the imposition of any civil or criminal penalty for a knowing or willful violation of this subtitle; or        (2)    Limit the power of the Commissioner or the courts to order a refund to a borrower of moneys collected in violation of this subtitle.
MD. Commercial Law Code Ann. §  12-317 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 3 - Consumer Loans -- Credit Provisions|Section 12-317 - Short Titles

    (a)    This subtitle may be cited as the Maryland Consumer Loan Law -- Credit Provisions.    (b)    This subtitle and the Maryland Consumer Loan Law -- Licensing Provisions may be cited jointly as the Maryland Consumer Loan Law.
MD. Commercial Law Code Ann. §  12-402 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-402 - License Required Unless Exempt

    A person may not make a loan under this subtitle unless he is licensed under or exempt from the licensing requirements of the Maryland Mortgage Lender Law.
MD. Commercial Law Code Ann. §  12-402.1 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-402.1 - Applicable Provisions Governing Loans

    (a)    (1)    On or after January 1, 2019, a lender may, at the lender’s option, elect to make a loan to any borrower either under this subtitle or as otherwise authorized by applicable law.        (2)    In order to make a loan under this subtitle, a lender shall make a written election in the agreement, note, or other evidence of the loan specifying that this subtitle will govern the loan.    (b)    (1)    If a lender elects to make a loan under this subtitle in accordance with this section, Subtitles 1, 3, 9, and 10 of this title do not apply to the loan.        (2)    If a lender who makes or contracts to make a loan does not make a written election under this subtitle or Subtitle 1, Subtitle 3, Subtitle 9, or Subtitle 10 of this title:            (i)    Subtitle 1 of this title will apply to the loan if the loan is:                1.    For an amount over $25,000; or                2.    A.    For an amount of $25,000 or less; and                B.    Not subject to Subtitle 3 of this title; or            (ii)    Subtitle 3 of this title will apply to the loan if the loan is:                1.    For an amount of $25,000 or less; and                2.    Subject to Subtitle 3 of this title.
MD. Commercial Law Code Ann. §  12-403 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-403 - False Advertising

    (a)    A person may not advertise directly or indirectly in the State any false or misleading statement regarding secondary mortgage loans or their availability.    (b)    This section does not apply to the owner, publisher, operator, or employee of any publication or radio or television station which disseminates the statement without knowledge of its false or misleading character.
MD. Commercial Law Code Ann. §  12-403.1 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-403.1 - Discrimination Prohibited

    In granting or denying any application for a loan, a lender may not discriminate against any loan applicant solely on the basis of age. Refusal to grant a loan to an applicant who is under the age of 18 is not discrimination solely on the basis of age.
MD. Commercial Law Code Ann. §  12-404.1 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-404.1 - Fees, Discounts, Points, etc., Permitted by Mortgage Purchase Programs

    Notwithstanding the provisions of §§ 12-404, 12-405(a), and 12-411 of this subtitle, a lender may impose and collect, as a condition of making a loan, all fees, discounts, points, or other charges that lenders are permitted or required to impose, collect, or pay pursuant to a federal law providing for a program of mortgage purchases or loans originated pursuant to a State or local governmental program of direct lending or mortgage purchase, or by any federal agency or instrumentality or subsidiary thereof, including but not limited to the Government National Mortgage Association, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal Reserve Bank, the Federal Home Loan Bank, and the Farmers Home Administration, if the following conditions are met:         (1)    The loan is eligible for purchase pursuant to a commitment or offer to purchase by the federal, State, or local government agency, instrumentality, or subsidiary; and        (2)    (i)    The sum of the fees, discounts, points, or other charges imposed plus the interest rate on the loan does not exceed 24 percent; and            (ii)    The fees, discounts, points, or other charges imposed and the interest rate on the loan do not exceed those allowed by the applicable federal law providing for the mortgage purchase program.
MD. Commercial Law Code Ann. §  12-405 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-405 - Permitted Charges

    (a)    (1)    A lender may collect a loan origination fee for making a loan under this subtitle only as provided in this section.        (2)    The aggregate amount of the loan origination fee imposed by a lender under this section when combined with any finder’s fee imposed by a mortgage broker under § 12-804 of this title may not exceed the greater of:            (i)    $500 or 10 percent of the net proceeds of a commercial loan of $75,000 or less made under this subtitle; or            (ii)    $250 or 10 percent of the net proceeds of any other loan made under this subtitle.        (3)    A lender may not collect from the borrower any other commission, finder’s fee, or point for obtaining, procuring, or placing a loan under this subtitle.        (4)    A lender who utilizes the provisions of § 12-404.1 of this subtitle, relating to federal second mortgage purchase programs, is not entitled to the origination fee provided for in paragraph (2) of this subsection in addition to the fees, discounts, points, or charges allowed under § 12-404.1(2) of this subtitle. All other second mortgage programs in this State are limited to the charges and fees provided in paragraph (2) of this subsection.    (b)    A lender may collect the fees paid to a public official or governmental agency for recording or satisfying the instrument securing the loan.    (c)    (1)    A lender may collect from the borrower a delinquent or late charge of the greater of $2 or 5 percent of the amount of any delinquent or late periodic installment, if:            (i)    The delinquency has continued for at least 10 days; and            (ii)    A delinquent or late charge has not already been charged for the same delinquency.        (2)    The lender shall deduct the charge from the next payment made by the borrower.
MD. Commercial Law Code Ann. §  12-406 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-406 - Restrictions on Payment of Commissions, Finder's Fees, and Points

    (a)    Except as permitted by § 12-405(a) of this subtitle, any commission, finder’s fee, or point shall be paid by the lender, and may be paid only to:        (1)    A licensed real estate broker;        (2)    A lawyer licensed to practice law in the State; or        (3)    A licensee.    (b)    An agreement to pay a commission, finder’s fee, or point may not be enforced unless it is in writing and signed by the lender.
MD. Commercial Law Code Ann. §  12-407.1 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-407.1 - Form for Secondary Mortgage Loan; Required Statements; Charges Permissible Under 12-404.1; Compliance With 12-401(i)(3)

    (a)    The Commissioner shall develop and prepare a form that each lender shall furnish to an applicant for a secondary mortgage loan. The form shall state the following:        (1)    The purpose for which the loan is to be used;        (2)    A disclosure that, if the loan is for a commercial purpose, the borrower shall forfeit certain rights.    (b)    The form shall state that the forfeiture of rights includes:        (1)    The borrower’s right to pay a loan origination fee that, when combined with any finder’s fee imposed by a mortgage broker under § 12-804 of this title, does not exceed the greater of:            (i)    $500 or 10 percent of the net proceeds of a commercial loan of $75,000 or less made under this subtitle; or            (ii)    $250 or 10 percent of the net proceeds of any other loan made under this subtitle;        (2)    The borrower’s right not to pay any other commission, finder’s fees, or points for obtaining, procuring, or placing a loan; and        (3)    The borrower’s right not to pay an interest rate greater than 24 percent.    (c)    This section does not prevent a lender from imposing fees, discounts, points, or other charges whenever permitted under § 12-404.1 of this subtitle concerning mortgage loan programs of state and federal agencies.    (d)    Compliance with the provisions of this section does not relieve the lender or mortgage broker from the provisions of § 12-401(i)(3) of this subtitle.
MD. Commercial Law Code Ann. §  12-408 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-408 - Refinancing

    A lender may not refinance a loan more often than:         (1)    Once during any twelve-month period of the loan; and        (2)    Twice during any five-year period of the loan.
MD. Commercial Law Code Ann. §  12-409 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-409 - Prohibited Provisions in Instruments Which Evidence or Secure Loan

    An instrument which evidences or secures a loan may not contain any:         (1)    Acceleration clause under which any part or all of the unpaid balance of the loan not yet matured may be declared due and payable for any reason other than default by the debtor in the payment or in another required term of the instrument;        (2)    Provision by which the debtor waives any right accruing to him under the provisions of this subtitle; or        (3)    Assignment or order for the payment of wages, whether earned or to be earned.
MD. Commercial Law Code Ann. §  12-411 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-411 - Prohibited Charges

    A lender may not directly or indirectly, contract for, charge, or receive, any interest, discount, fee, fine, commission, brokerage, charge, or other consideration in excess of that permitted by this subtitle.
MD. Commercial Law Code Ann. §  12-412 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-412 - Lender to Comply With Subtitle

    A lender may not make or offer to make any secondary mortgage loan except within the terms and conditions authorized by this subtitle.
MD. Commercial Law Code Ann. §  12-413 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-413 - Civil Penalties

    Except for a bona fide error of computation, if a lender violates any provision of this subtitle he may collect only the principal amount of the loan and may not collect any interest, costs, or other charges with respect to the loan. In addition, a lender who knowingly violates any provision of this subtitle also shall forfeit to the borrower three times the amount of interest and charges collected in excess of that authorized by law.
MD. Commercial Law Code Ann. §  12-414 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-414 - Criminal Penalty

    Any lender, his officer or employee and any other person who willfully violates any provision of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000 or imprisonment not exceeding one year or both.
MD. Commercial Law Code Ann. §  12-415 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 4 - Secondary Mortgage Loans -- Credit Provisions|Section 12-415 - Short Title

    This subtitle may be cited as the Maryland Secondary Mortgage Loan Law.
MD. Commercial Law Code Ann. §  12-502 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-502 - Application of Subtitle

    (a)    Each retail credit account established after May 31, 1967 shall comply with this subtitle.    (b)    (1)    Notwithstanding any situs of contract specified in it, a retail credit account is made in this State and is subject to this subtitle if:            (i)    The seller offers or agrees in this State to sell to a resident buyer of this State; or            (ii)    The resident buyer of this State accepts or makes the offer in this State to buy.        (2)    A verbal or written solicitation or communication to sell that originates outside the State but that is forwarded to and received in the State by a resident buyer of this State shall be construed as an offer or agreement to sell in this State.        (3)    A verbal or written solicitation to buy that originates in this State from a resident buyer of this State and that is forwarded to and received by a retail seller outside this State shall be construed as an acceptance or offer to buy in this State.    (c)    This subtitle does not apply to an installment sale agreement, as defined in § 12-601 of this title, relating to goods, as defined in that section, regardless of the cash sale price of the goods.
MD. Commercial Law Code Ann. §  12-504 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-504 - Maximum Finance Charge -- in General

    (a)    Notwithstanding any other statutory law, a seller, financial institution, or the successor in interest of either may charge, collect, and receive under a retail credit account a finance charge, however described, not to exceed the amounts permitted in §§ 12-505 and 12-506 of this subtitle.    (b)    If the date of performance or delivery of an item or service is more than 10 days from the date of purchase, the finance charge shall be computed from the date of performance or delivery.
MD. Commercial Law Code Ann. §  12-505.1 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-505.1 - Maximum Finance Charge -- Closed End Account -- Refinancing at Higher Rate

    Any closed end account made prior to July 1, 1982 which is refinanced at a higher rate pursuant to § 12-505(a)(3) of this subtitle must comply with the following requirements:        (1)    The holder must give the following disclosure in writing to the buyer prior to the execution by the buyer of the new retail credit account agreement:    If you do agree to consolidate your existing account, you will be paying an annual percentage rate of ..... on the existing net balance of $........, instead of the rate of ....... which you are now paying.
MD. Commercial Law Code Ann. §  12-505.2 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-505.2 - Maximum Finance Charge -- Closed End Account -- Change in Finance Charge During Term of Account Prohibited

    A seller or holder may not enter into a closed end retail credit account agreement, providing for an initial rate of finance charge pursuant to § 12-505(a)(3) of this subtitle, which contains a provision that permits the seller or holder to increase or decrease the applicable rate of finance charge from time to time during the term of the account.
MD. Commercial Law Code Ann. §  12-505.3 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-505.3 - Maximum Finance Charge -- Closed End Account -- Balloon Payment Prohibited

    With respect to a closed end retail credit account established at a rate pursuant to § 12-505(a) of this subtitle, the agreement may not provide for a balloon payment.
MD. Commercial Law Code Ann. §  12-506.1 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-506.1 - Credit Balances

    (a)    In this section “credit balance” means a balance on an open end retail credit account which indicates that the buyer has made payments or obtained refunds in excess of charges, resulting in a credit due to the buyer.    (b)    If there is a credit balance in excess of $1 on any retail credit account:        (1)    The holder shall send to the buyer a monthly statement which indicates the amount of the credit balance; and        (2)    If the credit balance remains the same after four consecutive monthly statements, the holder shall send to the buyer a check or money order in the full amount of the credit balance.    (c)    The provisions of this section shall apply only to credit balances remaining the same after four consecutive monthly statements for billing periods commencing after July 1, 1975.
MD. Commercial Law Code Ann. §  12-506.2 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-506.2 - Limitations Upon Changes in Rate Applicable to Open End Account

    Changes in the rate applicable to an open end account, including a credit card plan which provides for sales, cash advances, or both, are limited as follows:         (1)    Any balance existing before July 1, 1982 is to be repaid at the then applicable rate of interest or finance charge regardless of any subsequent increase in the rate applicable to the account.        (2)    If the rate applicable to any balance for which the borrower or buyer becomes obligated on or after July 1, 1982 is increased, the borrower or buyer may repay the existing balance at the rate in effect prior to the time the increase becomes effective. If the borrower or buyer increases the balance of his account by making purchases or requesting cash advances, the increased rate shall apply only to the portion of the balance incurred after the rate increases.
MD. Commercial Law Code Ann. §  12-507 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-507 - Note Taken as Part of Account

    (a)    If, as part of a retail credit account, a promissory note is taken by the seller or financial institution, the note shall refer to the account out of which it arises.    (b)    The note may not contain a confession of judgment or any power of attorney to appear for the buyer or for any surety or guarantor for the buyer to confess judgment.    (c)    If the note is assigned, it is subject to all defenses which the buyer might have asserted against the seller or financial institution.
MD. Commercial Law Code Ann. §  12-508 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-508 - Attorney's Fees

    If a retail credit account agreement provides for the payment of attorney’s fees, that provision may permit the holder only to receive reasonable attorney’s fees to be set by a court in the event of the filing of suit.
MD. Commercial Law Code Ann. §  12-509 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-509 - Discount to Consumer Paying Cash

    Notwithstanding any agreement to the contrary between a seller and the issuer of a credit card, the seller is permitted to offer a cash discount to consumers who pay cash instead of using the credit card.
MD. Commercial Law Code Ann. §  12-510 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-510 - Failure to Answer Status Inquiry

    If a buyer inquires in writing about the status of his account and the holder fails to answer the inquiry in clear and definite terms within 60 days after receiving it, the buyer is not required to pay a finance charge for that 60-day period or for any further period during which the holder fails to so answer.
MD. Commercial Law Code Ann. §  12-511.1 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-511.1 - Charge for Reply to Inquiry

    A holder may not charge a buyer a fee for any reply to an account status inquiry or billing status inquiry made under § 12-510 or § 12-511 of this subtitle.
MD. Commercial Law Code Ann. §  12-512 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-512 - Waiver by Buyer Invalid

    No act, agreement, or statement of a buyer may constitute a valid waiver of any benefit or protection provided to him under this subtitle.
MD. Commercial Law Code Ann. §  12-513 (2021)
2021 Maryland Statutes|Commercial Law|Title 12 - Credit Regulations|Subtitle 5 - Retail Credit Accounts|Section 12-513 - Violation of Subtitle

    (a)    Except as provided in subsection (b) of this section, if a holder violates any provision of this subtitle, no holder may collect or receive any finance charge from the buyer.    (b)    (1)    If the seller or any subsequent holder unintentionally and in good faith fails to comply with any provision of §§ 12-504 through 12-507 of this subtitle, the holder may correct the error within 10 days after:            (i)    He notices it; or            (ii)    The buyer notifies him in writing of the error.        (2)    If the holder corrects the error within the 10-day period, he may not be subject to any penalty under this subtitle.