1620 LAWS OF MARYLAND. [Ch. 835]

shall be paid in cash or securities approved by the Insurance
Commissioners.

SEC. 4. And be it further enacted, That this act shall take
effect from the first day of January, 1913.
Approved April 15, 1912.

CHAPTER 834.

AN ACT to extend the privileges, enlarge the powers and amend
the charter of the "Lord Calvert Mutual Benefit Society of
Baltimore City," a corporation duly incorporated under the
General Laws of this State.

(Vetoed.)

CHAPTER 835.

AN ACT to repeal sections 6 and 7 of Article 49 of the Code of
Public General Laws, title "Interest and Usury," and to re-
enact the same with amendments.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That sections 6 and 7 of Article 49 of the Code of Public
General Laws, title "Interest and Usury," be and the same are
hereby repealed and re-enacted so as to read as follows:

6. Nothing in the preceding section shall be so construed as
to make usury a cause of action in any case where the bond,
bill obligatory, promissory note, bill of exchange or other evi-
dence of indebtedness has been redeemed or settled for by the
obligor or obligors in money or other valuable consideration,
except that usury shall be a cause of action in all cases where the
redemption or settlement above mentioned is secured by or con-
nected with a renewal in whole or in part of the original indebt-
edness, provided that such original indebtedness shall not have
exceeded the sum of $500.

7. It shall not be lawful for any individual, partnership,
association or corporation other than pawnbrokers, real estate
brokers on loans secured by mortgage on real estate and licensed
petty loan brokers loaning money in this State to exact, demand
or receive of the borrower or borrowers, or of any other person
on his, her or their behalf in addition to legal interest as set
forth in section 1 of this article, any additional sum or sums
either in the way of bonus or commission or otherwise for procur-
ing or making any loan or advance of any sum of money less in