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June 21
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JOURNAL OF PROCEEDINGS
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28
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Annapolis, Maryland 21404
Dear Mr. Speaker:
In accordance with Article II, Section 17 of the Maryland
Constitution, I have today vetoed House Bill 708.
This bill was originally introduced to correct a technical
deficiency in the law relating to collection agencies to provide
that the bond which the agency posted would run to the benefit of
the credit grantor as well as the consumer. However, the bill
was amended to increase the minimum amount of the bond from
$5,000 to $25,000.
The sponsor, Delegate McCoy, has informed me that the five
fold increase in the amount of the bond would be very detrimental
to small collection agencies and, therefore, not in concert with
the original purpose of the bill.
At the request of the sponsor, I have decided to veto House
Bill 708.
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Sincerely,
Harry Hughes
Governor
Read and ordered journalized.
House Bill No. 708
AN ACT concerning
Collection Agencies - Bonding
FOR the purpose of altering the surety bond required to be paid
to the Commissioner of Consumer Credit by a collection
agency; and providing that the bond surety bond required to
be paid to the Commissioner of Consumer Credit by a
collection agency is for the use and benefit of debtors and
creditors in addition to certain members of the public.
BY repealing and reenacting, with amendments,
Article 56 - Licenses
Section 327
Annotated Code of Maryland
(1979 Replacement Volume and 1982 Supplement)
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The Speaker put the question: Shall the Bill pass,
notwithstanding the objections of the Executive?
The roll call vote resulted as follows:
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