614

LAWS OF MARYLAND

Ch. 33

without substantive change from Art. 66, § 52.

The first clause of present Art. 66, § 52, which
provides that a license remains in effect until
it expires or is surrendered, suspended, or
revoked, is deleted as an unnecessary statement
of the obvious.

12-319. REFUNDS NOT AUTHORIZED.

IF A LICENSE IS ISSUED FOR LESS THAN A FULL YEAR, IS
SURRENDERED VOLUNTARILY, THE BANK COMMISSIONER MAY NOT
REFUND ANY PART OF THE LICENSE FEE, REGARDLESS OF THE TIME
REMAINING IN THE LICENSE YEAR.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first two
clauses of the second sentence of Art. 66, §
44(a).

12-320. CRIMINAL PENALTIES.

ANY PERSON WHO WILLFULLY VIOLATES ANY PROVISION OF THIS
SUBTITLE IS GUILTY OF A MISDEMEANOR AND ON CONVICTION IS
SUBJECT TO A FINE NOT EXCEEDING $1,000 OR IMPRISONMENT NOT
EXCEEDING 1 YEAR OR BOTH.

REVISOR'S NOTE: This section presently appears as Art.
66, § 68.

The present reference to a "licensee and any
officer or employee of a licensee" is deleted as
unnecessary in light of the broad reference to
"any person".

The only other changes are in style.

12-321. SHORT TITLES.

(A)       MARYLAND SECONDARY MORTGAGE LOAN LAW — LICENSING
PROVISIONS.

THIS SUBTITLE MAY BE CITED AS THE MARYLAND SECONDARY
MORTGAGE LOAN LAW--LICENSING PROVISIONS.

(B)        MARYLAND SECONDARY MORTGAGE LOAN LAW.

THIS SUBTITLE AND THE MARYLAND SECONDARY MORTGAGE LOAN
LAW—CREDIT PROVISIONS MAY BE CITED JOINTLY AS THE MARYLAND
SECONDARY MORTGAGE LOAN LAW.

REVISOR'S NOTE: This section presently appears as Art.
66, § 39.

The only changes are in style.

GENERAL REVISOR'S NOTE: