{"data":{"id":"us-md/md.-code-financial-institutions-9-421","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 9–421","heading":"","body":"(a) In accordance with the regulations of the Division Director, a savings and loan association may permit borrowers to repay indebtedness on a loan by any method of repayment or plan, including a plan or repayment of indebtedness on a loan that is other than a direct monthly reduction of principal plan that has a fixed interest rate, level payments, and full amortization.\n(b) If a savings and loan association offers any alternative mortgage instrument on an owner-occupied residential loan in addition to a standard direct monthly reduction of principal plan, as required by the Division Director, the association shall give each prospective borrower information on the alternative plan and the standard plan.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=9-421","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"e41ed098ef86613fb6f19122de29a69ea22dc737f0aea4648791a77c40fd86c4","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-9-420","next":"us-md/md.-code-financial-institutions-9-422"},"notice":"GroundRules: Original legal text. Not legal advice."}