Ch. 319                                         1993 LAWS OF MARYLAND

(A) A LICENSEE OR A PERSON EXEMPT FROM LICENSING UNDER THIS
SUBTITLE IS NOT SUBJECT TO A PENALTY INVOLVING THE FORFEITURE OF
INTEREST OR PRINCIPAL FOR A VIOLATION THAT ARISES BECAUSE THE LICENSEE
OR PERSON EXEMPT FROM LICENSING IN GOOD FAITH:

(1) PERFORMED OR OMITTED TO PERFORM AN ACT IN CONFORMITY
WITH OR IN RELIANCE UPON:

(I)      A WRITTEN OPINION OF THE ATTORNEY GENERAL OF
MARYLAND OR A REGULATION ADOPTED BY THE COMMISSIONER;

(II)     A WRITTEN OPINION BY THE COMMISSIONER GIVEN ON
REQUEST OF THE LICENSEE OR PERSON EXEMPT FROM LICENSING; OR

(III) AN INTERPRETATION BY THE COMMISSIONER IN A WRITTEN
NOTICE OR EXAMINATION REPORT; OR

(2) USED A FORM OR PROCEDURE THAT HAS BEEN APPROVED IN
WRITING BY THE COMMISSIONER AND THE ATTORNEY GENERAL.

(B) THE LIMITATION OF LIABILITY PROVIDED IN SUBSECTION (A) OF THIS
SECTION APPLIES EVEN IF AFTER THE ACT OR OMISSION:

(B) THE PROVISIONS OF SUBSECTION (A) OF THIS SECTION DO NOT APPLY TO
AN ACT OR OMISSION TO ACT THAT OCCURS AFTER:

(1)      THE OPINION, REGULATION, OR INTERPRETATION RELIED ON IS
AMENDED, REPEALED, OR DETERMINED TO BE INVALID FOR ANY REASON BY ANY
JUDICIAL OR OTHER AUTHORITY; OR

(2)      APPROVAL FOR A FORM OR PROCEDURE IS AMENDED, RESCINDED,
OR DETERMINED TO BE INVALID FOR ANY REASON BY ANY JUDICIAL OR OTHER
AUTHORITY.

(C) THIS SECTION MAY NOT BE CONSTRUED TO:

(1) LIMIT THE IMPOSITION OF ANY CIVIL OR CRIMINAL PENALTY FOR A
KNOWING OR WILLFUL VIOLATION OF THIS SUBTITLE; OR

(2) LIMIT THE POWER OF THE COMMISSIONER OR THE COURTS TO
ORDER A REFUND TO A BORROWER OF MONEYS COLLECTED IN VIOLATION OF THIS
SUBTITLE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1993.

Approved May 11, 1993.

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