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1958 LAWS OF MARYLAND Ch. 601
SECTION 2. AND BE IT FURTHER ENACTED, That Section(s)
7-501(z) and (aa), respectively, of Article - Natural Resources,
of the Annotated Code of Maryland be renumbered to be Section(s)
7-501(y) and (z), respectively.
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SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1983.
Approved May 31, 1983.
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CHAPTER 602
(House Bill 320)
AN ACT concerning
St. Mary's County Interest on Mortgage or Deed of Trust Loans
FOR the purpose of providing that absent a provision to the
contrary in a mortgage or a note secured by a deed of trust,
certain interest is payable for a certain time; providing
that interest provided in a mortgage or note secured by a
deed of trust is payable after sale of the property for a
certain time period in St. Mary's County; and generally
relating to payment of interest on a mortgage or deed of
trust after sale of the property in St. Mary's County; and
clarifying language.
BY repealing and reenacting, with amendments,
Article - Real Property
Section 7-105(d)
Annotated Code of Maryland
(1981 Replacement 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 - Real Property
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7-105.
(d) (1) In ABSENT A PROVISION TO THE CONTRARY IN A MORTGAGE
OR NOTE SECURED BY A DEED OF TRUST, IN the enumerated counties,
the interest provided in a mortgage or NOTE SECURED BY A deed of
trust is payable for the time period provided in paragraph (2) of
this subsection or until the audit of the sale is ratified,
whichever occurs first.
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