3134

LAWS OF MARYLAND

[Ch. 698

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 7-106(d) be and it is hereby
added to Article - Real Property, of the Annotated Code
of Maryland (1974 Volume and 1974 Supplement) to read as
follows:

Article — Real Property
7-106.

(D) ANY PERSON WHO HAS A LIEN ON REAL PROPERTY IN
THIS STATE, ON WRITTEN REQUEST, SHALL FURNISH TO THE
PERSON RESPONSIBLE FOR THE DISBURSEMENT OF FUNDS IN
CONNECTION WITH THE GRANT OF TITLE TO THAT PROPERTY THE
ORIGINAL COPY OF THE EXECUTED RELEASE OF THAT LIEN. THIS
RELEASE SHALL BE MAILED OR OTHERWISE DELIVERED TO THE
PERSON RESPONSIBLE FOR THE DISBURSEMENT OF FUNDS:

[[(1) WITHIN SEVEN DAYS OF THE RECEIPT AS
PAYMENT OF CURRENCY, A CERTIFIED OR CASHIER'S CHECK, OR
MONEY ORDER IN SATISFACTION OF THE OUTSTANDING DEBT; OR

(2) WITHIN SEVEN DAYS AFTER THE CLEARANCE OF
NORMAL COMMERCIAL CHANNELS OF ANY TYPE OF COMMERCIAL
PAPER OTHER THAN THOSE SPECIFIED IN PARAGRAPH (1)
RECEIVED AS PAYMENT IN SATISFACTION OF THE OUTSTANDING
DEBT.]]

(1) WITHIN SEVEN DAYS OF THE RECEIPT, BY THE
HOLDER OF THE LIEN, OF CURRENCY, A CERTIFIED OR CASHIER'S
CHECK, OR MONEY ORDER IN SATISFACTION OF THE DEBT,
INCLUDING ALL AMOUNTS DUE UNDER THE LIEN INSTRUMENTS AND
UNDER INSTRUMENTS SECURED BY THE LIEN: OR

(2)        WITHIN SEVEN DAYS AFTER THE CLEARANCE OF

NORMAL COMMERCIAL CHANNELS OF ANY TYPE OF COMMERCIAL
PAPER, OTHER THAN THOSE SPECIFIED IN PARAGRAPH (1),
RECEIVED BY THE HOLDER OF THE LIEN IN SATISFACTION OF THE
OUTSTANDING DEBT, INCLUDING ALL AMOUNTS DUE UNDER THE
LIEN INSTRUMENTS AND UNDER THE INSTRUMENTS SECURED BY THE
LIEN.

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

Approved May 15, 1975.

CHAPTER 699

(House Bill 612)
AN ACT concerning

Municipal Corporations - Regional
Planning [[Organizations]] Council