(a) In this subtitle the following words have the meanings indicated.
(b) “Applicant” means any person who applies to a creditor:
(1) Directly for an extension, renewal, or continuation of credit; or
(2) Indirectly by use of an existing credit plan for an amount exceeding a previously established credit limit.
(c) “Commissioner” means the Commissioner of Financial Regulation.
(d) “Credit” means the right granted by a creditor to a debtor to:
(1) Defer payment of a debt;
(2) Incur a debt and defer its payment; or
(3) Purchase property or services and defer payment for it.
(e) “Creditor” means any person who regularly:
(1) Extends, renews, or continues credit for personal, family or household purposes; or
(2) Arranges for the extension, renewal, or continuation of credit.
(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.