2320

LAWS OF MARYLAND

[Ch. 410

Annotated Code of Maryland

(1968 Replacement Volume and 1974 Supplement)

BY repealing and re-enacting, with amendments,

Article 23 - Corporations

Section 161LL—1

Annotated Code of Maryland

(1973 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 108-1 of Article 11 - Banks and
Trust Companies, of the Annotated Code of Maryland (1968
Replacement Volume and 1974 Supplement) be and it is
hereby repealed and re—enacted, with amendments, to read
as follows:

Article 11 — Banks and Trust Companies

108-1.

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] HOME
FINANCING PROGRAM under Article [4] 41 of the Code.

SECTION 2. AND BE IT FURTHER ENACTED, That Section
161LL—1 of Article 23 — Corporations, of the Annotated
Code of Maryland (1973 Replacement Volume and 1974
Supplement) be and it is hereby repealed and re—enacted,
with amendments, to read as follows:

Article 23 — Corporations

161LL-1.

Any association 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] HOME
FINANCING PROGRAM under Article 41 of the Code.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved April 22, 1975.