1900. ] OF THE HOUSE OF DELEGATES, 1021

said Article, and to provide for the prevention of usury
and extortion on the part of certain concerns and individ-
uals doing business as chattel mortgagees or money lend-
ers in the State of Maryland. "

AMENDMENT PROPOSED.

Strike out all after the words "A Bill, " and insert the
following:

"Entitled an Act to add an additional section to Art-
icle 49, of the Code of Public General Laws, title 'Inter-
est and Usury, ' to be known as 'Section 7, ' of said Art-
icle, and to provide for the prevention of usury and ex-
tortion on the part of certain concerns or individuals
lending money on chattel mortgages in the State of
Maryland.

"Section 1. Be it enacted by the General Assembly of
Maryland, That an additional section to be known as
'Section 7, ' be added to Article 49, of the Code of Public
General Laws, title 'Interest and Usury, ' to read as fol-
lows:

"Sec. 7. It shall not be lawful for any individual, part-
nership, association or corporation lending money upon
chattel mortgages within the limits of this State to have
or charge for the use of money so loaned more than the
lawful rate of interest thereon as fixed by the provisions
of section 57 of Article 4, of the Constitution of the
State of Maryland, and that no additional sums, either in
the way of bonus or otherwise, shall be required or ex-
acted of the borrower or borrowers, and further, that no
charges for examination in revaluation of property
offered, insurance of same, and preparation, execution
and recording of necessary papers shall be imposed except
follows: For examination or valuation of property of-
fered for mortgage and preparation of papers (both in-
cluded), the sum of $5 where the amount loaned does not
exceed $50; $8 where the amount exceeds $50 and equals
$100 or less, and 5 per centum additional of the excess
over $100 where the amount loaned exceeds $100 and
equals $1, 000 or less; and two and one-half per centum
additional of the excess over $1, 000 where the amount
loaned exceeds $1, 000. For necessary affidavits, record-
ing of papers, and revenue stamps and fire insurance pre-
miums the amounts actually to be paid for same, provid-