2002                             Laws of Maryland                       Ch. 714

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1970 AND SHALL AUTOMATICALLY EXPIRE ON JUNE
30, 1973, WITHOUT ANY FURTHER ACTION BY THE GEN-
ERAL ASSEMBLY.

Approved May 21, 1970.

CHAPTER 713
(House Bill 1047)

AN ACT to repeal and re-enact, with amendments, Section 16(d) of
Article 58A of the Annotated Code of Maryland (1969 Supplement),
title "Loans—Consumer," to provide that a clerical error OR
MISTAKE under certain circumstances shall not void a contract
for a loan and providing for a licensee's liability, under certain
circumstances.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 16(d) of Article 58A of the Annotated Code of Maryland
(1969 Supplement), title "Loans—Consumer," be and it is hereby re-
pealed and re-enacted, with amendments, to read as follows:

16.

(d) If interest, or charges in excess of those permitted by this
article shall be charged, contracted for, or received, the contract of
loan shall be void and the licensee shall have no right to collect, re-
tain or receive any principal, interest, charges or recompense what-
soever, except that if a licensee shall, as the result of clerical error or
mistake, contract for, charge or receive greater interest or charges
than permitted by this article, the contract shall not be void if the
error CLERICAL ERROR OR MISTAKE is corrected by the licensee
before the next payment on the loan is made by the borrower. If
the error CLERICAL ERROR OR MISTAKE is corrected by the
licensee after the date of the next payment by the borrower, the
contract shall not be void but the licensee shall be liable to the bor-
rower in a sum equal to three times the amount of the overcharge
resulting from the error CLERICAL ERROR OR MISTAKE.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1970.

Approved May 21, 1970.

CHAPTER 714
(House Bill 1118)

AN ACT to repeal and re-enact, with amendments, Section 108(8)
of Article 52 of the Annotated Code of Maryland (1969 Supple-
ment), title "Justices of the Peace," subtitle "Trial Magistrates
System," increasing the salaries of the Trial Magistrates of Charles
County.