MARVIN MANDEL, Governor

421

PAYMENT OF WAGES; AND

(ii) THE AMOUNT BY WHICH THE WAGES EXCEEDS
THE CONSIDERATION PAID FOR THEM IS CONSIDERED INTEREST OR
CHARGES ON THE LOAN FROM THE DATE OF THE PAYMENT TO THE
DATE THE WAGES ARE PAYABLE.

(3) THE TRANSACTION DESCRIBED IN THIS
SUBSECTION IS GOVERNED BY AND SUBJECT TO THE PROVISIONS
OF THIS SUBTITLE.

REVISOR'S NOTE: This subsection presently appears as
Art. 11, §200.

The words "salary, commissions, or other
compensation" are deleted as unnecessary in
light of the definition of "wages" in §12—301
of this subtitle.

The only other changes are in style.

(D) LOANS IN EXCESS OF $3,500.

(1)    A LENDER WHO LENDS OR CONTRACTS TO LEND
AN AMOUNT WHICH EXCEEDS $3,500 MAY NOT DIRECTLY OR
INDIRECTLY CONTRACT FOR, CHARGE, OR RECEIVE ANY INTEREST,
FEE, OR OTHER CHARGE IN EXCESS OF THAT WHICH HE WOULD BE
PERMITTED TO CHARGE IF HE WERE NOT AUTHORIZED TO MAKE
LOANS UNDER THIS SUBTITLE.

(2)    THE PROVISIONS OF THIS SUBSECTION APPLY
TO ANY DEBT IN EXCESS OF $3,500 WHICH IS DIRECTLY OR
CONTINGENTLY OWED OR CONTRACTED TO BE SO OWED BY ANY ONE
PERSON OR BY ANY HUSBAND AND WIFE, JOINTLY OR SEVERALLY:

(i) WHETHER AS A BORROWER, AN ENDORSER,
GUARANTOR, OR SURETY FOR A BORROWER, OR OTHERWISE; AND

(ii) WHETHER THE DEBT IS PART OF A SINGLE
TRANSACTION OR THE AGGREGATE OF MORE THAN ONE
TRANSACTION.

REVISOR'S NOTE: This subsection is new language
derived without substantive change from Art.
11, §199.

With respect to the use of the term "lender"
in substitution for "licensee," see revisor's
note to §12—301(c).

12-304. ADVERTISING.

(A) FALSE ADVERTISING PROHIBITED.