1878

LAWS OF MARYLAND

Ch. 680

Secretary obtains through temporary use of sites shall be
deposited in the fund. The remaining 25 percent shall be
paid to the county in which the site is situated. If the
site lies within two or more counties, the 25 percent
shall be distributed proportionally according to the area
within each county. THE SECRETARY SHALL PAY FROM THE FUND
TO THE COUNTY AN AMOUNT EQUAL TO THE REAL ESTATE TAXES
ASSESSED ON THE LAND AT THE TIME OF ACQUISITION LESS ANY
FUNDS RECEIVED BY THE COUNTY FOR ANY TEMPORARY USE OF THE
SITE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1976.

Approved May 17, 1976.

CHAPTER 681

(House Bill 781)

AN ACT concerning

Interest Rates — Unsecured Installment Loans

FOR the purpose of revising the provisions relating to
certain unsecured installment loans and permitting a
certain interest rate for certain installment loans
which do not exceed a certain amount and a different
percent for certain installment loans which exceed
that amount; and providing for certain conditions
for making such loans.

BY repealing and reenacting, with amendments,

Article — Commercial Law
Section 12-103(c)
Annotated Code of Maryland
(1975 Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 12-103(c) of Article - Commercial
Law, of the Annotated Code of Maryland (1975 Volume and
1975 Supplement) be and it is hereby repealed and
reenacted, with amendments, to read as follows:

Article — Commercial Law

12-103.

[(c) Unsecured installment loan — 12 percent
maximum.