§ 12-1002. Authorized extensions of credit

Latest version.

(a) Permitted. -- Any credit grantor may, subject to the other provisions of this subtitle, offer and extend closed end credit to a borrower.

(b) Interest and other charges authorized; security. -- In connection with closed end credit offered and extended under this subtitle, a credit grantor may charge and collect the interest and other charges permitted by this subtitle and may take any security as collateral as may be acceptable to the credit grantor.

HISTORY: 1983, ch. 143; 1993, ch. 404, § 2.

                    
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