Ch. 531                                          LAWS OF MARYLAND

(2) NOTWITHSTANDING §§ 12-507.1 THROUGH 12-509 OF
THIS SUBTITLE, THE COMMISSIONER OF CONSUMER CREDIT SHALL ENFORCE
THE PROVISIONS OF THIS SUBTITLE WITH RESPECT TO ANY LICENSEE
UNDER THE MARYLAND SECONDARY MORTGAGE LOAN LAW WHO ACTS AS A
MORTGAGE BANKER OR MORTGAGE BROKER.

[(b)] (C) Licensees shall report annually to the Bank
Commissioner, on a form prescribed by the Bank Commissioner, any
residential mortgage loans under $75,000 brokered with any lender
other than those referred to in subsection (a) of this section.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act is an
emergency measure, is necessary for the immediate preservation of
the public health and safety, has been passed by a yea and nay
vote supported by three-fifths of all the members elected to each
of the two Houses of the General Assembly, and shall take effect
from the date it is enacted. It shall remain effective until the
end of June 30, 1989 and, at that time, and with no further
action required by the General Assembly, this Act shall be
abrogated and of no further force and effect and the Michie
Company is directed to restore, to the financial Institutions
Article of the Annotated Code, the wording of § 12-502 of that
article as it existed on the day before this Act becomes
effective.

CHAPTER 531

(House Bill 1485)

AN ACT concerning

St. Mary's County - Public Facilities Bonds

FOR the purpose of amending Chapter 451 of the Acts of 1987 to
authorize the County Commissioners of St. Mary's County to
acquire land and make improvements thereon for public use.

BY repealing and reenacting, with amendments,

Chapter 451 of the Acts of the General Assembly of 1987
Section 1

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

Chapter 451 of the Acts of 1987

Approved May 17, 1988.

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