1434

LAWS OF MARYLAND

Ch. 345

from a business for its repair, or to or from a place
for its inspection; and allowing a prospectivo buyer to
drive such a vehicle for demonstration purposes using
such plates for a period not exceeding three days.

BY repealing and reenacting, with amendments,

Article — Transportation

Section 13—623

Annotated Code of Maryland

(1977 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be repealed, amended, or enacted to read as follows: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 — Transportation

13-623.

(a)        In this section, "financial institution" means:

(1)        Any tank that is authorized to do business
in this State; and

(2)        Any other financial institution that is
licensed to do business in this State by the Bank
Commissioner or the Commissioner of Consumer Credit.

(b)        Any financial institution may apply to the
Administration for the issuance of as many special, finance
company registration plates as the Administration
authorizes.

(c)        A financial institution may drive, under any one
finance company registration plate issued to it, any vehicle
repossessed by or on behalf of the financial institution[,
but only while the repossessed vehicle is being taken from]:

(1)        FROM the place of its repossession to a
[permanent] place of storage[.];

(2)          FROM ONE PLACE OF STORAGE TO ANOTHER;

(3)          TO OR FROM A BUSINESS FOR ITS REPAIR; OR

(4)          TO OR FROM A PLACE FOR ITS INSPECTION.

(D) A PROSPECTIVE BUYER TO WHOM A FINANCIAL

INSTITUTION HAS LOANED A REPOSSESSED VEHICLE MAY DRIVE THE

VEHICLE FOR DEMONSTRATION PURPOSES UNDER ONE OF THE

INSTITUTION'S FINANCE COMPANY REGISTRATION PLATES FOR A

PERIOD NOT EXCEEDING THREE DAYS.

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