MARVIN MANDEL, Governor

415

§12—201 defines "loan" generally as being one
"made under this subtitle."

12-212. INTERPRETATION AND CONSTRUCTION OF SUBTITLE.

THIS SUBTITLE SHALL BE INTERPRETED AND CONSTRUED TO
EFFECTUATE ITS GENERAL REMEDIAL PURPOSE.

REVISOR'S NOTE: This section presently appears as
Art. 58A, §22(b).

The only changes are in style.

12-213. PENALTIES.

ANY LENDER OR HIS OFFICER OR EMPLOYEE WHO KNOWINGLY
VIOLATES THE PROVISIONS OF §§ 12-203 THROUGH 12-206,
12-208(A), OR 12-210 OF THIS SUBTITLE AND ANY PERSON WHO
KNOWINGLY VIOLATES THE PROVISIONS OF §12-211 OF THIS
SUBTITLE IS GUILTY OF A MISDEMEANOR AND ON CONVICTION IS
SUBJECT TO A FINE NOT EXCEEDING $500 OR IMPRISONMENT NOT
EXCEEDING SIX MONTHS OR BOTH.

REVISOR'S NOTE: This section is new language which
synthesizes the provisions of Art. 58A, §23
and the last paragraph of §15. Although §15
does not contain the word "knowingly," the
Commission feels that the essence of that
section was to punish only knowing violators.

The reference to "copartnership, association
or corporation" and the phrase "whether
licensed under the provisions of this article
or not" are deleted as unnecessary in light of
the use of the general term "person," defined
in §12-201.

The penalty for making a loan without a
license is retained in Art. 58A, the licensing
provisions, for future inclusion in the
Business Regulation Article.

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

12-211. SHORT TITLES.

(A) THIS SUBTITLE MAY BE CITED AS THE MARYLAND
SHALL LOAN LAW - CREDIT PROVISIONS.

(B) THIS SUBTITLE AND THE MARYLAND SHALL LOAN LAW -
LICENSING PROVISIONS MAY BE CITED JOINTLY AS THE MARYLAND
SHALL LOAN LAW.