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Session Laws, 1935
Volume 579, Page 1090   View pdf image (33K)
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1090 LAWS OF MARYLAND. [CH. 527

application to and written authority of said Court first
obtained.

SEC. 6. (56) Any Stenographer, as aforesaid, who
shall violate, or permit to be violated, in any manner, any
of the provisions of this Act as to secrecy, shall be guilty
of a misdemeanor, and upon conviction thereof, shall be
fined not less than Five nor more than Five Hundred Dol-
lars, or be confined in Jail for a period of not more than
one year.

SEC. 7. And be it further enacted, That this act shall
take effect June 1, 1935.

Approved May 17, 1935.

CHAPTER 527.

AN ACT to re-enact with amendments Section 6A of Ar-
ticle 66 of the Code of Public General Laws of Mary-
land (1924 Edition), title "Mortgages, " enacted by
Chapter 57 of the Acts of 1933, Extraordinary Session
of the General Assembly of Maryland, suspending for
the period hereinafter stated, the right of a holder of a
fractional interest in the debt secured by any mortgage,
to foreclose or procure the foreclosure thereof, except
as provided in this Act.

WHEREAS prior to the enactment by the General As-
sembly of Maryland of the aforesaid Act of 1933 Chapter
57, under Section 6 of Article 66 aforesaid of the Code
of Public General Laws of Maryland (1924 Edition) the
holder of a fractional interest, no matter how small, in a
debt secured by a mortgage, could sell or procure the sale
of the mortgaged property in accordance with the power of
sale contained in said mortgage after a default had oc-
curred in said mortgage, even though such sale be against
the wishes of the holders of the remainder of said debt
secured by said mortgage; and

WHEREAS by reason of the prolonged business depres-
sion there has been, and now continues to be, an abnormal
deflation of real and leasehold property values in the State
of Maryland and precipitate foreclosure sales would affect
seriously the investments in such mortgages and imperil
their safety, perhaps irrevocably; and

 

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Session Laws, 1935
Volume 579, Page 1090   View pdf image (33K)
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