Section 145April 13, 1992, Sec./Art. 145

Exempted Transaction. – The foregoing requirements on consumer credit transactions shall not apply to the following credit transactions:

a) those involving extension of credits for business or commercial purposes, or to the Government and governmental agencies and instrumentalities, juridical entities or to organizations;

b) those in which the debtor is the one specifying the definite set of credit terms such as bank deposits, insurance contracts, sale of bonds or analogous transactions.