§ 1-209. Regulation of extension of credit

   (a) State to regulate. -- Only the State may enact a law which purports to regulate extensions of credit made by a financial institution.

(b) Exceptions. -- This section does not:

   (1) Affect federal law preemption of State law;

   (2) Restrict or otherwise affect local laws that establish property ownership or the rights and obligations of property owners;

   (3) Restrict or otherwise affect a local government's ability to regulate its fiscal, economic, or community development policy;

   (4) Restrict or otherwise affect a local government's ability to enact laws or adopt regulations relating to fair housing or other civil rights; or

   (5) Restrict or otherwise affect a local government's ability to establish or administer loan programs to assist residents with financial needs.

HISTORY: 2002, ch. 532, § 2.