1354 INTEREST AND USURY. [ART. 49

chattels, whether such lien shall be in the nature of a condi-
tional sale, chattel mortgage, bill of sale, whether recorded or
unrecorded, or any other lien of any character whatsoever, 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 3 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 exacted of the bor-
rower or borrowers; and further, that no charges for examina-
tion or valuation of property offered, insurance of same, and
preparation, execution and recording of necessary papers shall
be imposed except as follows: for examination or valuation of
property offered for security for loan and preparation of papers
(both included) the sum or five dollars where the amount
loaned does not exceed fifty dollars; six dollars where the
amount exceeds fifty and equals one hundred dollars or less ;
and five per centum additional of the excess over one hundred
dollars where the amount loaned exceeds one hundred dollars
and equals one thousand dollars or less; and two and one-half
per centum additional of the excess over one thousand dollars
where the amount loaned exceeds one thousand dollars; for
necessary affidavits, recording papers, revenue stamps and fire
insurance premiums the amounts actually to be paid for same ;
provided that the foregoing charges and interest as herein pro-
vided may be deducted from the principal of the loan when the
same is made; and provided further, it shall not be lawful to
make any charges for renewals or extensions of loans, nor to
divide or split up loans under any pretext whatsoever for the
purpose of requiring or exacting any other or greater charges
than prescribed herein; and provided, that where a loan is paid
off before maturity, interest shall be rebated to the borrower or
borrowers at the rate of six per centum per annum on the
amount so paid; and any violations of the provisions of this
section shall be a misdemeanor and punishable by a fine of
one hundred dollars for the first offense, and of a like fine and
imprisonment in jail for thirty days for the second and each
subsequent offense; and further, the entire amount loaned
shall be forfeited to the borrower or borrowers and the mort-
gage therefor given become null and void.*

* See ante art 23, sec 112, as to loans on chattels by corporations