838                               Laws of Maryland                      [Ch. 280

SEC. 2. AND BE IT FURTHER ENACTED, THAT THE PRO-
VISIONS OF SECTION 1 SHALL APPLY TO ALL PERSONS
PROSECUTED UNDER THIS SUBHEADING SINCE ITS EF-
FECTIVE DATE OF JULY 1, 1970..

Sec. 2 3. And be it further enacted, That this Act shall take effect
July 1, 1972.

Approved May 5, 1972.

CHAPTER 279
(House Bill 361)

AN ACT to add new Section 10(e) to Article 49 of the Annotated
Code of Maryland (1971 Cumulative Supplement), title "Interest
and Usury," to follow immediately after Section 10(d) thereof
to except certain loans from the provisions of Section 10(a) to (c),
inclusive SUBSECTION 10(a)(2) AND (3), which require writ-
ten statements to be furnished to all borrowers relating to amounts
of principal and interest to be repaid.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Section 10(e) be and it is hereby added to Article 49 of
the Annotated Code of Maryland (1971 Cumulative Supplement),
title "Interest and Usury," to follow immediately after Section 10(d)
thereof and to read as follows:

10.

(e) This section shall not apply to loans defined by the Federal

Truth in Lending Act as "consumer" credit transactions, provided
the lender complies with the applicable disclosure provisions of the
Federal Truth in Lending Act and the applicable regulations adopted
pursuant thereto THE PROVISIONS OF PARAGRAPHS TWO (2)
AND THREE (3) OF SUBSECTION (A) OF THIS SECTION
SHALL NOT APPLY TO LOANS SUBJECT TO THE DIS-
CLOSURE PROVISIONS OF THE FEDERAL TRUTH IN
LENDING ACT IF THE LENDER COMPLIES WITH THE
APPLICABLE DISCLOSURE PROVISIONS OF THE FEDERAL
TRUTH IN LENDING ACT AND THE APPLICABLE REGU-
LATIONS ADOPTED PURSUANT THERETO, PROVIDED
THAT THE ACT OR REGULATIONS REQUIRE THAT THE
INTEREST RATE CHARGED BE DISCLOSED IN ADDITION
TO ANY OTHER ITEM WHICH MUST BE DISCLOSED.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1972.

Approved May 5, 1972.

CHAPTER 280
(House Bill 429)

AN ACT to repeal and re-enact, with amendments, Section 153D(c)
of Article 83 of the Annotated Code of Maryland (1971 Supple-