MARVIN MANDEL, Governor

2171

FOR the purpose of providing that a certain refinancing
of a loan is not a renewal of the loan for purposes
of the interest and usury provisions relating to
certain charges permitted to be made on certain
loans secured by residential real property.

BY adding to

Article — Commercial Law
Section 12-103 (b)(3)
Annotated Code of Maryland

(As enacted by Chapter (HB 26)

of the Acts of the General Assembly of 1975)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 12-103(b)(3) be and it is
hereby added to Article — Commercial Law, of the
Annotated Code of Maryland (As enacted by Chapter _____
(HB 26) of the Acts of the General Assembly of 1975) to
read as follows:

Article — Commercial Law

12-103.

(B) (3) FOR THE PURPOSE OF PARAGRAPH (1)(V) OF
THIS SUBSECTION, A REFINANCING BY WHICH THE BORROWER
ELECTS TO INCREASE THE BALANCE DUE ON AN EXISTING LOAN
IS NOT A RENEWAL OF THE LOAN.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved April 22, 1975.

CHAPTER 354
(Senate Bill 710)

AN ACT concerning

Divorce a Vinculo — Incarceration

FOR the purpose of altering the time during which a
spouse shall be incarcerated and before which a
divorce a vinculo may be granted.