1426                                       LAWS OF MARYLAND                                 Ch. 339

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

Approved May 2, 1978.

CHAPTER 340

(House Bill 501)

AN ACT concerning

Judgments — Interests Interest

FOR the purpose of providing that in an action at law
arising from a contract for the loan or payment of
money in which a judgment is entered, the judgment
shall be so entered as to carry interest at the rate
charged in the contract on the unpaid principal of the

money__borrowed; relating generally to interest on

judgments; and providing exceptions.

BY adding to

Article — Courts and Judicial Proceedings

Section 11-106

Annotated Code of Maryland

(1974 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be repealed, amended, or enacted to read as follows: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 — Courts and Judicial Proceedings

11-106.

A MONEY JUDGMENT ENTERED IN AN ACTION ARISING FROM A
CONTRACT FOR THE LOAN OF HONEY SHALL CARRY INTEREST AT THE
RATE CHARGED IN THE CONTRACT ON ANY BALANCE REMAINING UNPAID
UNTIL SIX MONTHS AFTER THE DATE OF MATURITY OF THE CONTRACT

AS ORIGINALLY SCHEDULED. HOWEVER, THE RATE__OF__INTEREST

SHALL BE ON THE UNPAID PRINCIPAL OF THE MONEY BORROWED. THE
PROVISIONS OF THIS SECTION DO NOT APPLY TO ANY LOAN SECURED
BY A MORTGAGE OR DEED OF TRUST.

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

Approved May 2, 1978.