Volume 678, Page 1441 View pdf image (33K) |
J. MILLARD TAWES, Governor 1441 specifying certain regulations as to such transactions and setting May 5, 1966. Honorable Marvin Mandel Dear Mr. Speaker: In accordance with the provisions of Article 2, Section 17 of Although this Bill purports to regulate the field of secondary There are listed below fourteen deficiencies in the Bill which the 1. The license fee is not nearly sufficient to provide revenue to 2. There is no provision for a finding of needs and conven- 3. There is no requirement for regular examinations. 4. The rate of interest taken in connection with other charges 5. There is no provision requiring the mortgagor to show proof 6. There is no limit to the amount of any such loan. 7. There is no prohibition against the lender conducting the 8. There is no prohibition against a balloon payment at the 9. No receipts are required to be given to mortgagor for pay- 10. There is no criminal penalty for violations. 11. The lender is not required to release the mortgage upon pay- 12. There is no requirement for Annual Reports to be furnished |
||||
Volume 678, Page 1441 View pdf image (33K) |
Tell Us What You Think About the Maryland State Archives Website!
|
An Archives of Maryland electronic publication.
For information contact
mdlegal@mdarchives.state.md.us.