HARRY HUGHES, Governor

585

A PERSON MAY NOT KNOWINGLY:

(1)   MAKE AN INCORRECT STATEMENT OF MATERIAL FACT
IN ANY APPLICATION, REPORT, OR OTHER STATEMENT FILED UNDER
THIS SUBTITLE; OR

(2)   FAIL TO STATE ANY MATERIAL FACT THAT IS
NECESSARY TO GIVE THE COMMISSIONER ANY INFORMATION THAT THE
COMMISSIONER REQUIRES UNDER THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second and
third clauses of Art. 83, § 163.

11-419. PENALTIES.

ANY PERSON WHO VIOLATES OR PARTICIPATES IN THE
VIOLATION OF ANY PROVISION OF THIS SUBTITLE IS GUILTY OF A
MISDEMEANOR AND ON CONVICTION IS SUBJECT TO A FINE NOT
EXCEEDING $500 OR IMPRISONMENT NOT EXCEEDING 6 MONTHS OR
BOTH.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first and
last clauses of Art. 83, § 163.

GENERAL REVISOR'S NOTE:

Present Art. 83, § 165 is deleted as unnecessary in
light of the general severability provision of Art. 1, § 23
of the Code.

As to compliance with the Workmen's Compensation Law,
see § 1-203 of this article.

See also Title 12, Subtitle 6, Part III of the
Commercial Law Article, which regulates sales finance
companies as to renewals and extensions of, and refunds of
installments paid under, installment sales agreements.

The General Assembly may wish to consider whether this
subtitle ought not be amended to reflect adequately the
scope implied by the broad definition of "sales finance
company" in § 11-401 of this subtitle. Originally, that
definition included only a person who is engaged in the
business of acquiring certain interests in an installment
sale agreement. More recently, the definition was amended
to include also a person who is engaged in the business of
acquiring certain interests in a "retail credit account
transaction ... or ... home improvement transaction...".
However, the main bulk of this subtitle was left unamended
and fails to reflect the added scope of the definition.

Thus, while one dealing with retail credit accounts,
for example, must be licensed, § 11-405 of this subtitle
only permits the Commissioner to deny a license to a person