1652                                         LAWS OF MARYLAND                        [Ch. 419

Approved April 30, 1974.

CHAPTER 420
(House Bill 149)
AN ACT concerning

Interest and Usury — Home Mortgages

FOR the purpose of increasing the legal rate of interest
which may be charged in Maryland on certain loans
secured by a first mortgage or first deed of trust
on residential real [[property]] [[estate]] property
or any interest therein, stating certain conditions
therefor, relating generally to certain expense or
escrow accounts protecting the security of the loan
and for other purposes, of limiting certain
increases and generally relating to interest and
usury; prohibiting discrimination by lenders on the
basis of geographic areas or neighborhoods in

accepting mortgages on residential____property

providing definitions relating thereto; and
[[providing for an emergency effective date.]]
providing that a certain section of this Act shall
not apply after June 1, 1976.

BY adding to

Article 49 - Interest and Usury

[[Sections 13, 14 and 15]]

[[Section 13]]

Sections 13 and 14

Annotated Code of Maryland

(1972 Replacement Volume and 1973 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new [[Sections 13, 14 and 15]] [[Section
13]] Sections 13 and 14 be and [[they are]] [[it is]]
they are hereby added to Article 49 - Interest and Usury,
of the Annotated Code of Maryland (1972 Replacement
Volume and 1973 Supplement) to read as follows:

Article 49 — Interest and Usury
13.

(A) ANY LOAN SECURED BY A FIRST MORTGAGE OR FIRST