2640                                         LAWS OF MARYLAND                                     Ch. 520

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1985.

Approved May 28, 1985.

CHAPTER 521

(Senate Bill 240)

AN ACT concerning

Judgment - Interests and Penalties

FOR the purpose of providing that the rate of interest and
penalties on certain judgments for delinquent taxes is equal
to the greater of a certain percent per annum or the
interest and penalties on the delinquent taxes; and
providing for the effective date of this Act.

BY repealing and reenacting, with amendments,

Article - Courts and Judicial Proceedings

Section 11-107

Annotated Code of Maryland

(1984 Replacement Volume and 1984 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Courts and Judicial Proceedings

11-107.

(a) Except as provided in § 11-106 of this article, the
legal rate of interest on a judgment shall be at the rate of 10
percent per annum on the amount of judgment.

(b) The legal rate of interest on a money judgment for rent
of residential premises shall be at the rate of 6 percent per
annum on the amount of the judgment.

(C) THE LEGAL RATE OF INTEREST ON A MONEY JUDGMENT FOR
DELINQUENT REAL OR PERSONAL PROPERTY TAXES SHALL BE THE GREATER
OF:

(1) THE SUM OF THE RATES OF INTEREST AND PENALTIES,
IF ANY, FIXED UNDER ARTICLE 81, § 48 OF THE CODE; OR

(2) AT THE RATE OF 10 PERCENT PER ANNUM.

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of
Maryland read as follows: