1268                                       LAWS OF MARYLAND                                Ch. 234

Secondary Mortgage Loans - Credit Provisions

FOR the purpose of requiring lenders to give receipt for
payment by money order certain negotiable instruments
only on request by the borrower.

BY repealing and reenacting, with amendments,

Article — Commercial Law

Section 12-407(c)

Annotated Code of Maryland

(1975 Volume and 1977 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article - Commercial Law

12-407.

(c) (1) Except as provided in paragraph (2) of this
subsection, at the time a lender receives a payment on
account of a loan, the lender shall give to the borrower a
plain and complete receipt for the payment.

(2) If the payment is made by      [personal]

check, OR MONEY ORDER, CASHIER'S CHECK,     OR TREASURER'S

CHECK, the lender need give a receipt to the    borrower only
on the request of the borrower.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.

Approved May 2, 1978.

CHAPTER 235

(Senate Bill 479)

AN ACT concerning

Baltimore County - Alcoholic Beverages
(Compensation of Liquor License Inspectors)

FOR the purpose of altering the salary of the chief liquor
license inspectors and the other liquor license
inspectors in Baltimore County.

BY repealing and reenacting, with amendments,