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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 277   View pdf image (33K)
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ASSIGNMENT OF CHOSES IN ACTION. 277

of six per centum per annum on any sum borrowed, or permit a deduction
from said sum so loaned to him or her at the time of said loan, or any time
thereafter, of more than a sum equivalent to six per centum per annum for
the time said loan is made.

An. Code, sec. 14. 1906, ch. 399.

14. The term "assignment," as used in sections 11 to 17, shall include
every assignment, transfer, sale, pledge, mortgage or hypothecation, how-
ever made or attempted, of the wages or salary of any person, or of any
interest therein.

An. Code, sec. 15. 1906, ch. 399.

15. Whenever any assignment of the wages or salary of any person
or persons shall be given as security for a loan tainted with usury, or shall
be given to secure the payment or fulfillment of a usurious contract or the
payment of the principal or interest of a usurious debt, such assignment
shall be absolutely void.

As to interest and usury, see art. 49.

An. Code, sec. 16. 1906, ch. 399.

16. Every assignment of wages to be earned in whole or in part more
than six (6) months from and after the making of such assignment, shall
be absolutely void.

An. Code, sec. 17. 1906, ch. 399.

17. Whenever any person, firm or corporation shall bring, or threaten
to bring any action or suit to enforce any assignment of wages or salary
which has not been duly executed, acknowledged, sworn to and served upon
the employer in conformity with the provisions of sections 11 to 17, or
which is declared invalid by the provisions of sections 11 to 17, courts of
equity shall have full power, upon the application either of the assignor of
such wages or salary, or of the person, firm or corporation from whom
such wages or salary is, or is to become due, to perpetually enjoin the threat-
ened or attempted enforcement of any such assignment; and the fact that
the complainant has a complete and adequate remedy at law shall constitute
no defense to the maintenance of a suit in equity for the purpose aforesaid.

 

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The Annotated Code of the Public General Laws of Maryland, 1924
Volume 375, Page 277   View pdf image (33K)
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