{"data":{"id":"us-md/md.-code-commercial-law-12-701","jurisdiction":"us-md","citation":"Md. Code, Commercial Law § 12–701","heading":"","body":"(a) In this subtitle the following words have the meanings indicated.\n(b) “Applicant” means any person who applies to a creditor:\n(1) Directly for an extension, renewal, or continuation of credit; or\n(2) Indirectly by use of an existing credit plan for an amount exceeding a previously established credit limit.\n(c) “Commissioner” means the Commissioner of Financial Regulation.\n(d) “Credit” means the right granted by a creditor to a debtor to:\n(1) Defer payment of a debt;\n(2) Incur a debt and defer its payment; or\n(3) Purchase property or services and defer payment for it.\n(e) “Creditor” means any person who regularly:\n(1) Extends, renews, or continues credit for personal, family or household purposes; or\n(2) Arranges for the extension, renewal, or continuation of credit.\n(f) “Person” includes an individual, corporation, business trust, statutory trust, estate, trust, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.","path":["Article - Commercial Law"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gcl\u0026section=12-701","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:33Z","sha256":"2c6c0a8ea82dc888c9a5a7d0c6215347502c1d4ac79856fa154b2f1dd7deb293","source_id":"us-md","stale":false,"prev":"us-md/md.-code-commercial-law-12-636","next":"us-md/md.-code-commercial-law-12-702"},"notice":"GroundRules: Original legal text. Not legal advice."}