Closed-end credit definition

Closed-end credit means a credit transaction that does not meet the definition of open-end credit.

Closed-end credit means consumer credit other than open-end credit as defined in this section.

Closed-end credit means consumer credit other than ‘‘open-end credit’’ as that term is defined in Regulation Z (Truth in Lending), 12 CFR part 226.

Examples of Closed-end credit in a sentence

• MARYLAND RESIDENTS ONLY: Lender elects to make this loan pursuant to Subtitle 10 (Credit Grantor Closed End Credit provisions) of Title 12 of the Maryland Commercial Law Article only to the extent that such provisions are not inconsistent with Lender’s authority under federal law (12 U.S.C. § 85, § 1463(g), or § 1831d, as appropriate) and related regulations and interpretations, which authority Lender expressly reserves.

• If (a) Borrower is not a corporation and (b) the principal amount of this Note stated above is $75,000 or less, then (i) prior to the Conversion Date, this loan is made under the Maryland Credit Grantor Revolving Credit Provisions (Md. Code Commercial Law Art., Subtitle 9), and (ii) upon and after the Conversion Date, this loan is made under the Maryland Credit Grantor Closed End Credit Provisions (Md. Code Commercial Law Art., Subtitle 10).

• C3 Closed End Credit: You and I agree that I may borrow up to the maximum only one time land subject to all other conditions).

• This feature is subject to all other conditions and expires on _______________ ¨ Closed End Credit: You and I agree that I may borrow up to the maximum only one time (and subject to all other conditions).

• MARYLAND RESIDENTS ONLY: Lender elects to make this loan pursuant to Subtitle 10 (Credit Grantor Closed End Credit provisions) of Title 12 of the Maryland Commercial Law Article only to the extent that such provisions are not inconsistent with Lender's authority under federal law (12 U.S.C. § 85, § 1463(g), or § 1831d, as appropriate) and related regulations and interpretations, which authority Lender expressly reserves.

More Definitions of Closed-end credit

Closed-end credit means consumer credit other than open-end credit as de- fined in this section.

Closed-end credit means a consumer loan or a consumer credit sale which is not incurred pursuant to open end credit.

Closed-end credit means an extension of credit to a consumer that is not open-end credit under paragraph (a)(16) of this section.

Closed-end credit means consumer credit other than open-end credit as defined in these rules.

Closed-end credit means the extension of credit by a licensee to a borrower pursuant to an arrangement or agreement which is not a revolving credit plan as defined in subchapter II of this chapter.

Closed-end credit means consumer credit other than open-end credit, and “[o]pen-end credit” is defined as “consumer credit extended by a creditor under a plan in which: (i) the creditor reasonably contemplates repeated transactions; (ii) the creditor may impose a finance charge from time to time on an outstanding unpaid balance; and (iii) the amount of credit that may be extended to the consumer during the term of the plan (up to any limit set by the creditor) is generally made available to the extent that any outstanding balance is repaid.” 12 C.F.R. §§ 1026.2(a)(10) and (a)(20). Defendants extend closed-end

Closed-end credit means consumer credit (but for the conditions applica- ble to consumer credit under this part) other than consumer credit that is ‘‘open-end credit’’ as that term is de- fined in Regulation Z.