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Session Laws, 1974
Volume 713, Page 2792   View pdf image
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2792

LAWS OF MARYLAND

[Ch. 843

CHAPTER 843
(House Bill 1715)
AN ACT concerning

Residential Mortgages - Notice of Rejection

FOR the purpose of providing that certain persons Must
provide a certain notice upon a rejection for a
residential mortgage.

BY adding to

Article 11 - Banks and Trust Companies

Section 108-1

Annotated Code of Maryland

(1968 Replacement Volume and 1973 Supplement)

BY adding to

Article 23 — Corporations

Section 161MM

Annotated Code of Maryland

(1973 Replacement Volume and 1973 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 108-I be and it is hereby
added to Article 11 — Banks and Trust Companies, of the
Annotated Code of Maryland (1968 Replacement Volume and
1973 Supplement) to read as follows:

Article 11 — Banks and Trust Companies

108-I.

ANY BANKING INSTITUTION WHICH REJECTS AN APPLICATION
FOR A RESIDENTIAL MORTGAGE MUST PROVIDE, IN WRITING, UPON
THE REQUEST OF THE APPLICANT, A NOTICE OF REJECTION. THE
WRITTEN NOTICE MAY BE USED AS EVIDENCE OF SUCH REJECTION
TO PRESENT TO THE MARYLAND HOUSING FUND UNDER ARTICLE 4
OF THE CODE.

SECTION 2. AND BE IT FURTHER ENACTED, That new
Section 161MM be and it is hereby added to Article 23 —
Corporations, of the Annotated Code of Maryland (1973
Replacement Volume and 1973 Supplement) to read as

 

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Session Laws, 1974
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