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LAWS OF MARYLAND

[Ch. 49

The last sentence of present §18(b), relating
to permissible rates for life and health and
accident insurance, is deleted as superfluous
in light of present §18(c) - now subsection
(c)(2) of this section — which relates
generally to all insurance, including property
insurance. The present references to rates
contained in a "manual of a recognized
insurance rating bureau" is deleted as
unnecessary since these rates, which under the
present law must also be filed with the
Insurance Division, likewise would cone within
the scope of subsection (c)(2). In fact, the
Insurance Division has advised the Commission
that the filing of these manuals is gradually
becoming obsolete and is no longer the
practice of insurance companies doing business
in Maryland.

The only other changes are in style and
organization.

With respect to the use of the tern "lender"
in substitution for "licensee," see revisor's
note to §12-201(b).

12-210. PROHIBITED CHARGES AND TRANSACTIONS; WHEN
CONTRACT VOID; TREBLE DAMAGES.

(A) PROHIBITIONS.

WITH RESPECT TO ANY LOAN, A LENDER MAY NOT:

(1)    DIRECTLY OR INDIRECTLY CONTRACT FOR,
CHARGE, OR RECEIVE ANY INTEREST, DISCOUNT, FEE, FINE,
COMMISSION, BROKERAGE, CHARGE, OR OTHER CONSIDERATION IN
EXCESS OF THAT PERMITTED BY THIS SUBTITLE;

(2)   INDUCE OR KNOWINGLY PERMIT A BORROWER TO
DIVIDE A LOAN FOR THE PURPOSE OF OBTAINING INTEREST OR
CHARGES IN EXCESS OF THAT PERMITTED BY THIS SUBTITLE;

(3)   KNOWINGLY PERMIT ANY HUSBAND AND HIS
WIFE, INDIVIDUALLY OR TOGETHER, OR ANY ENDORSER,
GUARANTOR, OR SURETY TO BE DIRECTLY OR CONTINGENTLY
INDEBTED TO THE LENDER UNDER MORE THAR ONE LOAN CONTRACT
AT THE SAME TIME; OR

(4)   ENFORCE A CONTRACT OF SURETY OR GUARANTEE
UNLESS THE LOAN CONTRACT WITH THE BORROWER IS EXECUTED BY
THE SURETY OR GUARANTOR.

REVISOR'S NOTE: This subsection is new language
which combines without substantive change the