Theodore R. McKeldin, Governor                   131

charge now allowed by law for the recording of the same. In those
clerks' offices where such instruments are photostated or microfilmed
no instrument upon which a rider or riders have been placed or
attached in such a manner as to obscure, hide or cover any other
part of the instrument shall be offered or received for record and
no instrument not otherwise readily subject to photostating or micro-
filming shall be offered or received for record until a charge equal
to three times the fee now allowed by law for the recording of the
same shall have been paid to such clerk.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1957 JANUARY 1, 1959.

Approved March 1, 1957.

CHAPTER 96
(Senate Bill 14)

AN ACT to repeal and re-enact, with amendment, Section 196 (a) 4
of Article 11 of the Annotated Code of Maryland (1951 Edition),
title "Banks and Trust Companies", sub-title "Industrial Finance
Companies", relating to the conditions which may be required by
every licensee UNDER WHICH A BORROWER MAY OBTAIN
INSURANCE under the industrial finance company law.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 196 (a) 4 of Article 11 of the Annotated Code of Mary-
land (1951 Edition), title "Banks and Trust Companies", sub-title
"Industrial Finance Companies", be and it is hereby repealed and
re-enacted, with amendment, to read as follows:

196.
(a)

4. Collect from the borrower AT THE OPTION OF THE BOR-
ROWER, in addition to the foregoing, the premiums actually paid
for insuring real or personal property securing a loan or advance;
or collect for the premiums actually paid for insuring the life of
the party or parties obligated on a loan or advance, [unsecured
by real or personal property] in an amount not to exceed the gross
amount of the contract; provided that at no time shall contracts of
life insurance be outstanding for more than the original amount of
the contract; provided further that any such insurance hereinabove
described is obtained from an insurance company authorized by the
State Insurance Department of Maryland to conduct business in this
State at rates which do not exceed those lawfully or acceptably filed
by such insurance companies with the Insurance Department of
Maryland; and is in an amount not to exceed the reasonable value
of the real or personal property insured; and is of the type of cover-

Explanation: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.