MARVIN MANDEL, Governor                                2745

language, on which shall be plainly printed a copy of §
196 of this subtitle, disclosing [in clear and distinct
terms the amount and date of the loan; a schedule of
payments or a description thereof; the type of the
security, if any, for the loan; the name and address of
the licensed office and of each person primarily
obligated; the actual amount of cash received; the amount
deducted for interest, charges and fees; the amount
collected or paid out for insurance, if any; the gross
amount of the contract together with its repayment terms
whether lump sum, monthly, or other periodic intervals.]
ALL INFORMATION REQUIRED BY THE FEDERAL TRUTH-IN-LENDING
LAW IN THE FORM AND TERMINOLOGY SET FORTH IN REGULATION Z
OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM.

(2)   For each payment made on account of any such
loan, give to the person making it at the time the
payment is made a plain and complete receipt specifying
the amount applied to [delinquent fees or] other charges
properly and fully collectible and the amount, if any,
applied to principal and stating the unpaid principal
balance, if any, of [such] THE loan;; provided that an
unitemized receipt may be given temporarily and replaced
within a reasonable time with a receipt as prescribed
above. PROVIDED FURTHER, THAT IF THE LICENSEE REGULARLY
FURNISHES PRIOR TO EACH CONTRACT DUE DATE A BILLING
STATEMENT SHOWING: THE PRIOR BALANCE; AMOUNTS PAID
DURING THE BILLING PERIOD AND THE DATES; THE AMOUNT
APPLIED TO INTEREST; THE AMOUNT APPLIED TO PRINCIPAL; THE
NEW UNPAID BALANCE; AND THE AMOUNT AND DUE DATE OF THE
NEXT MATURING INSTALLMENT, NO RECEIPT SHALL BE REQUIRED.

(3)    Permit payment to be made in advance in any
amount on any contract of loan at any time.

(4)   Deliver to the borrower within [twenty-five
(25)] 25 days a copy of any insurance policy required,
purchased and charged for in connection with any loan or
advance.

(5)   Upon repayment of a loan contract in full, mark
plainly every obligation signed by any obligor with the
word "Paid" or "Cancelled", restore any pledge, cancel
and return any note and any assignment or security given
to the licensee and release any mortgage or any other
recorded lien [of] OR evidence of obligation.

198.

No licensee shall (1) at the time of the making of a
loan or before default in payment, take any confession of
judgment or any power of attorney running to himself or
to any third person to confess judgment or to appear for
the borrower in a judicial proceeding; nor (2) take any