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Ch. 693
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2838
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LAWS OF MARYLAND
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SECTION 6. AND BE IT FURTHER ENACTED, That Section
192A of Article 41 - Governor-Executive and
Administrative Departments of the Annotated Code of
Maryland (1971 Replacement Volume and 1976 Supplement) be
and it is hereby repealed and reenacted, with amendments,
to read as follows:
192A.
(a) The Commissioner of Consumer Credit shall
administer and supervise the provisions of the Maryland
Consumer Loan Law [and the Maryland Small Loan Law]. The
exercise or performance of all powers, authority, duties
and functions vested in the Commissioner by the
provisions of this subtitle, shall be subject to the
power and authority of the Secretary of Licensing and
Regulation as set forth in Article 41 of this Code, or
elsewhere in the laws of this State. In addition to
administering and supervising the consumer loan [and
small loan] laws, the Commissioner shall report to the
State's Attorney of the county or Baltimore City having
jurisdiction, any criminal violation of said laws, and
the State's Attorney shall take such action relating to
said alleged violations as he may deem appropriate. On
or before March 15 of each year, the Commissioner shall
report to the Governor, the members of the General
Assembly, and the Secretary of Licensing and Regulation,
on the composite condition of annual business operations
of all licensees under the Maryland Consumer Loan Law
[and the Maryland Small Loan Law] through December 31 of
the preceeding year, including a balance sheet; gross
income and a breakdown of its sources; expense
itemization; interest earned and uncollected; average
amount of outstanding loans monthly and at year end; and
analysis of outstanding loans by sizes, types of security
and delinquency. The Commissioner shall determine proper
categories for itemization and any additional information
which he deems appropriate to reflect overall operations.
[The first report hereunder on March 15, 1975, shall
cover only the six months operation commencing July 1,
1974.]
SECTION 7. AND BE IT FURTHER ENACTED, That Section
5(b) of Article 49 - Interest and Usury, of the Annotated
Code of Maryland (1972 Replacement Volume and 1976
Supplement) be and it is hereby repealed and reenacted,
with amendments, to read as follows:
5.
(b) Any person engaged in the business of making
leans or for a consideration under §12-103(c) of The
Commercial Law Article, which includes any person making
more than five loans under §12-103(c) per year, other
than a tanking institution, national banking association,
building and loan association, whether federally or State
chartered, credit union or licensee under any Maryland
lending provisions in any other article of the Code,
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