2760                                 LAWS OF MARYLAND                               Ch. 785

(1975 Volume and 1979 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be repealed, amended, or enacted to read as follows: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

12-307.

(a) At the time a loan is made, a lender may collect
from the borrower:

(1)  AS TO ANY ITEM OF THE TOTAL PROPERTY THAT
SECURES A LOAN:

[(1)] (I) The fees paid to a public
official or governmental agency for recording or satisfying
a mortgage, encumbrance, or lien on any property securing
the loan [or an equal or lesser amount for nonfiling
insurance policy premium at rates approved by the Insurance
Commissioner and upon which no commissions shall be paid];
and OR

(II) ANY AN EQUAL OR LESSER AMOUNT FOR
NONFILING INSURANCE PREMIUM ON ANY PROPERTY, OR PORTION OF
THE PROPERTY, THAT IS NOT RECORDED IF:

1.  THE INSURANCE COMMISSIONER
APPROVES THE RATES; AND

2.  A COMMISSION IS NOT PAID ON THE
POLICY; AND

(2)  The title insurance premiums or reasonable
attorney's fees paid for searching and insuring the title to
any real property securing the loan.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 27, 1980.

CHAPTER 786
(House Bill 1464)
AN ACT concerning

Creation of a State Debt - Goucher College