184 ARTICLE 1.

PAWNBROKERS.

1912, ch. 464, sec. 1

491. No person shall engage in the business of loaning money upon
pledges of personal property in Allegany County, and shall charge more
than the usual legal rate of interest without first taking out a license as
required by the General Laws of the State of Maryland for doing a pawn-
broker business.

1912, ch. 464, sec. 2.

492. It shall be lawful for any regularly licensed pawnbroker in Alle-
gany County, in view and by reason of the necessity of expensive storage,
labor, insurance, repairs and keeping of records and other expenses in-
separable from the nature of the business hereby authorized, as affording
a desirable and advantageous facility to the commercial and other classes
of society, to charge upon any loan upon goods or chattels or personal
property, to cover interest, storage, affidavits, investigating title, packing
and other expenses incidental to the business of this character, a sum of
money not to exceed ten per cent, on the amount of money so loaned or
advanced for a period of thirty days immediately following the date of
said loan upon amounts not exceeding ten dollars and on sums of money
over and above the said amount of ten dollars, nor more than two per
cent, on amounts in excess of ten dollars, and it shall be lawful for any
regularly licensed pawnbroker to charge an amount not exceeding two

per cent, interest for any renewals of the loans made as aforesaid, to
which said renewals the borrower shall be privileged upon payment of said
amount of two per cent, monthly, and there shall be no other charges of
any kind whatsoever made for or on account of said loan.

1912, ch. 464, sec. 3.

493. Such legally licensed pawnbrokers shall cause to be kept in suit-
able books to be provided by such pawnbrokers an accurate account of
each loan or advance made by him, giving the name of the person to whom
the loan is made, a general description of the property taken as security,

the time when the said loan is made, the amount of the same and the
amount to be charged for making the same; and all such business and
affairs of every such pawnbroker shall be subject at all times to inspec-
tion by the County Commissioners of Allegany County or by an agent
or committee appointed by said County Commissioners for the purpose
of making said inspection. At the time of making each loan the said pawn-
broker shall furnish to the borrower a ticket or receipt setting out the
article upon which the loan is advanced, the amount of the same and upon
said ticket or receipt there shall be printed a schedule of the amounts
allowed to be charged upon any loans made by said pawnbroker under the
provisions of this act.