§ 31-116. Relationship to other laws of Maryland.

(a)

This Subtitle provides a complete, additional, alternative method for the doing of the things authorized and shall be regarded as supplemental and additional to, and the limitations imposed by this Subtitle do not affect powers or rights conferred by other laws, and the issuance of bonds and refunding bonds under this Subtitle need not comply, but may not conflict, with the requirements of any other law applicable to the issuance of bonds.

(b)

(1)

Notwithstanding any other provision of law or Charter, lending institutions may borrow money from the Authority, make education loans and take all other actions and do all those things necessary or convenient to consummate the transactions contemplated under this Subtitle.

(2)

The Authority may establish, charge, contract for, and collect any amount or rate of interest or compensation with respect to Authority loans and lending institutions or the Authority may contract for, charge and collect any amount or rate of interest or compensation with respect to education loans. Neither the Authority nor any lending institution or any participating institution in a loan program under this Subtitle shall be subject to the licensing provisions of Title 11 of the Financial Institutions Article of the Annotated Code of Maryland and the credit regulations of Title 12 of the Commercial Law Article of the Annotated Code of Maryland.

(Chapter 704, Laws of Md., 1986)