ART. 23] LOANS ON CHATTELS. 593

shall refuse to make payment at the times above set forth to their wage-
workers, laborers or other employees the wages due them or any of
them, said association, corporation or officer so refusing shall be guilty
of a misdemeanor, and be liable to indictment therefor, and, upon con-
viction, shall be fined a sum not exceeding two hundred dollars for each
offense.

See sec. 315.

1904, art. 23, sec. 112. 1894, ch. 629, sec. 104 A.

124. No corporation incorporated under the laws of this State, for
any purpose whatsoever, nor any foreign corporation doing business in
this State, shall offer to procure or act as agent for any person or
persons in procuring or making any loan of money or other valuable
thing on the security of any chattels, nor shall make any loan of money
or of any other valuable thing on the security of any chattels or other-
wise, except in its own proper corporate name and for its own behalf or
benefit; and no such corporation making any such loan, as aforesaid,
shall be entitled to charge any borrower of money from it, or shall take
from any borrower from it, or other person, any other thing for or in
the name of premium, or of compensation for renewing or continuing
any such loan as it may be authorized to lawfully make, than lawful
interest at the rate of six per centum per annum, for the term during
which such loan shall be renewed or continued; and every security
taken by any such corporation for any such loan as aforesaid shall
express plainly the period of time for which such loan is made, and the
entire interest agreed to be paid for said loan for the term of such
loan, which entire interest shall in no case nor by any means be made
to exceed the rate of six per centum per annum on the money or other
thing loaned for the term of such loan; and any contract or security for
any such loan, or providing for the renewal or continuance of any such
loan, made in violation of this section, shall be absolutely null and
void. And no person or persons in this State shall assume to deal or
act as a corporation, or in any corporate name or in any other than in
his, her or their own proper name or names, in any of the matters or
things prohibited by this section under a penalty of not less than fifty
dollars for every offense, to be recovered by indictment in any court
having criminal jurisdiction in the city or county where any such
offense may have been committed; and every security taken by any
such person or persons in any such name of a corporation, or in any
other than his, her or their own proper name or names, shall be abso-
lutely null and void; provided, this section shall not apply to homestead
and building and loan associations incorporated under the laws of this
State.

This section Is applicable only to loans upon chattels, and not to mortgages
of real or leasehold property. Purpose and intent of this section. Commer-
cial Assn. v. Mackenzie, 85 Md. 136.

As to building associations and their charges, see sec. 134 et seq.

See art 49, sec. 7; also art. 21, sec. 43, et seg.

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