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664 LAWS OF MARYLAND Ch. 118
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SECTION 2. AND BE IT FURTHER ENACTED, That the provisions
relating to passenger cars for rental or lease added to law by
this Act and any regulations promulgated pursuant thereto, and
these provisions and regulations only, are of no effect and may
not be enforced after June 30, 1985.
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SECTION 2. 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1983.
Approved May 10, 1983.
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CHAPTER 119
(Senate Bill 312)
AN ACT concerning
Real Property - Mortgage Loan Settlement
FOR the purpose of requiring certain settlement agents lenders to
disburse purchase money loans in specified forms to certain
parties at closing; providing for the time period for
recordation of certain documents pertaining to closing;
providing for civil penalties for noncompliance with this
Act providing a penalty for a lender who fails to make a
proper disbursement; and generally relating to transactions
involving purchase money loans for certain real property.
BY adding to
Article - Real Property
Section 7-109
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
7-109.
(A) THIS SECTION APPLIES ONLY TO A TRANSACTION INVOLVING A
PURCHASE MONEY LOAN SECURED BY FIRST DEEDS OF TRUST OR MORTGAGES
ON REAL PROPERTY THAT CONTAINS 4 OR LESS NO MORE THAN 4 DWELLING
UNITS.
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