§ 5-506

Md. Code Ann., Fin. Inst. § 5-506

Unsecured loans of $10,000 or more

Effective Oct 1, 2008Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1980, c. 411; Acts 2008, c. 89, § 1, eff. Oct. 1, 2008.State of Maryland

Before a banking institution makes an unsecured loan of $10,000 or more to any person, the banking institution shall obtain sufficient financial information from the person to support the loan.

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1980, c. 411; Acts 2008, c. 89, § 1, eff. Oct. 1, 2008.

Formerly Art. 11, § 108A.