MARVIN MANDEL, Governor

447

FINE, COMMISSION, BROKERAGE, CHARGE, OR OTHER
CONSIDERATION IN EXCESS OF THAT PERMITTED BY THIS
SUBTITLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 66,
§62(a). It is patterned after similar
language contained in §§ 12—210 and 12—313 of
this title, and is introduced to make it
explicit that a lender may charge the borrower
only the charges permitted by this subtitle.

12-412. LENDER TO COMPLY WITH SUBTITLE.

A LENDER MAY NOT MAKE OR OFFER TO MAKE ANY SECONDARY
MORTGAGE LOAN EXCEPT WITHIN THE TERMS AND CONDITIONS
AUTHORIZED BY THIS SUBTITLE.

REVISOR'S NOTE: This section presently appears as
Art. 66, §60 (which is retained in Art. 66
since it relates to the licensing requirements
as well as the credit provisions of this
subtitle).

The only changes are in style.

12-413. CIVIL PENALTIES.

EXCEPT FOR A BONA FIDE ERROR OF COMPUTATION, IF A
LENDER VIOLATES ANY PROVISION OF THIS SUBTITLE HE MAY
COLLECT ONLY THE PRINCIPAL AMOUNT OF THE LOAN AND MAY NOT
COLLECT ANY INTEREST, COSTS, OR OTHER CHARGES WITH
RESPECT TO THE LOAN. IN ADDITION, A LENDER WHO KNOWINGLY
VIOLATES ANY PROVISION OF THIS SUBTITLE ALSO SHALL
FORFEIT TO THE BORROWER THREE TIMES THE AMOUNT OF
INTEREST AND CHARGES COLLECTED IN EXCESS OF THAT
AUTHORIZED BY LAW.

REVISOR'S NOTE: This section presently appears as
Art. 66, §69.

Reference to an "actual or" bona fide error is
deleted as unnecessary.

The only other changes are in style.

12-414. CRIMINAL PENALTY.

ANY LENDER, HIS OFFICER OR EMPLOYEE AND ANY OTHER
PERSON WHO WILLFULLY VIOLATES ANY PROVISION OF THIS
SUBTITLE IS GUILTY OF A MISDEMEANOR AND ON CONVICTION IS
SUBJECT TO A FINE NOT EXCEEDING $1,000 OR IMPRISONMENT
NOT EXCEEDING ONE YEAR OR BOTH.