MARVIN MANDEL, Governor

2045

fixtures and other properties and all appropriations,
credits, assets, liabilities, and obligations of each
retained unit are continued as the personnel, records,
files, furniture, fixtures, properties, appropriations,
credits, assets, liabilities, and obligations of the
agency under the laws enacted by this Act.

SECTION 12. AND BE IT FURTHER ENACTED, That except
as expressly provided to the contrary in this Act, any
transaction affected by or flowing from any statute here
amended, repealed, or transferred, and validly entered
into before the effective date and every right, duty, or
interest flowing from it remains valid after the
effective date and may be terminated, completed,
consummated, or enforced as required or permitted by any
statute amended, repealed, or transferred by this Act as
though the repeal, amendment, or transfer had not
occurred.

SECTION 13. AND BE IT FURTHER ENACTED, That this
Act shall take effect on July 1, 1975.

Approved April 22, 1975.

CHAPTER 312
(Senate Bill 304)

AN ACT concerning

Vehicle Laws — Security Interests

FOR the purpose of eliminating the recordation tax on
written lien instruments and creating a special fund
for accumulation and distribution to the several
counties and Baltimore City of a portion of the fee
collected for filing a security interest with the
Motor Vehicle Administration; eliminating the
requirement necessitating the payment of the
recordation tax in addition to filing a security
interest with the Motor Vehicle Administration as a
condition to perfecting a security interest;
clarifying the hearing procedures for action for
damages for any person sustaining a loss or damage
resulting from an omission or mistake, or error in
the proper filing and recording of a security
interest by an employee of the Motor Vehicle
Administration in the execution of his duties; and