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1578
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Ch. 511
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LAWS OF MARYLAND
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SECTION 2. AND BE IT FURTHER ENACTED, That the Prince
George's County Housing Authority Commissioners in office on July
1, 1983 shall continue to serve for the remainder of their terms.
Of the 2 additional Commissioners provided for in Section 1 of
this Act, 1 shall be appointed for an initial term of 4 years and
1 shall be appointed for an initial term of 5 years.
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SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1983.
Approved May 24, 1983.
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CHAPTER 512
(House Bill 752)
AN ACT concerning
Loans - Penalties for False Statements
FOR the purpose of establishing a penalty to be assessed against
any person who willfully requires a borrower of a certain
type of loan to make a false or misleading statement as a
condition to receiving a loan; and permitting the Consumer
Protection Division of the Department of Law to investigate
certain complaints and hold certain hearings.
BY repealing and reenacting, with amendments,
Article - Commercial Law
Section 12-106.1
Annotated Code of Maryland
(1975 Volume and 1982 Supplement)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Commercial Law
12-106.1.
(a) A person may not require a borrower, as a condition to
receiving a loan, to make any false or misleading statement or
characterization that a loan is a commercial loan under §§
12-101(c), 12-103(e), or 12-105 of this subtitle if the loan is
not a commercial loan.
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