HARRY HUGHES, Governor

33

underlying secured transaction or transactions being
publicized by such financing statement are subject to the
recordation tax imposed by Article 81, §§ 277 and 278,
Annotated Code of Maryland, 1962 Suppl., as amended, from
time to time, or whether partially so subject. If such
transaction or transactions are wholly or partially subject
to such recordation tax then the principal amount of the
debt initially incurred shall be stated for the purpose of
computing the tax then payable, and the payment and
collection of subsequent taxes by reason of additional
indebtedness shall be governed by the provisions of said
Article 81, §§ 277 and 278 aforesaid. If a statement is to
be recorded in the land records, such statement must state
conspicuously at its top "To Be Recorded in the Land
Records" and any such statement tendered for filing in
Baltimore City or in any county where a block system is
maintained for recording papers among the land records shall
contain in the description of the real estate the house
number and street, if there be any, or the block reference.
Statements other than those to be recorded in the land
records shall be recorded in a well-bound book or books to
be styled "Financing Records" and indexed in a book or books
to be styled "Index of Financing Records[.]".

12-103.

(a) (1) Except as provided in subsections (b), (c),
(d), [and] (e), AND (F) of this section, [(1)] a lender may
charge interest at an effective rate of simple interest not
in excess of 8 percent per year on the unpaid principal
balance of a loan if there is a written agreement signed by
the borrower which sets forth the stated rate of interest
charged by the lender.

Article - Education

4-201.

(c) (1) An individual may not be appointed as county
superintendent unless he[;]:

(i) Is eligible to be issued a certificate
for the office by the State Superintendent;

(ii) Has graduated from an accredited
college or university; and

(iii) Has completed 2 years of graduate
work at an accredited college or university, including
public school administration, supervision, and methods of
teaching.

5-101.

(i) (2) All other positions formerly listed in
"instructional salaries" that are supervisory and
administrative shall be listed under SUBSECTION (c)(2)(i)
"administration" of this section.