PARRIS N. GLENDENING, Governor                             Ch. 510

[(b)](C) Each associate, employee, manager, or partner who participates in or
consents to a violation of this title is guilty of a misdemeanor and, on conviction, is subject
to a fine not exceeding $5,000 or imprisonment not exceeding 1 year or both.

[ (c)] (D) Each violation of this title is a separate offense.
12-402.

A PERSON THAT SELLS AN ITEM TO A DEALER SHALL SIGN A STATEMENT.
UNDER THE PENALTIES OF PERJURY. THAT THE PERSON IS THE OWNER OF THE
ITEM.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1996.

Approved May 14, 1996.

CHAPTER 510
(House Bill 988)

AN ACT concerning

Credit Regulation - Revolving Credit Plan - Origination Fees

FOR the purpose of authorizing a credit grantor of an open end credit plan that is
secured by real property to charge an origination fee not to exceed a certain
percentage of the initial advance made under the plan; and generally relating to
secured open end credit plans.

BY repealing and reenacting, with amendments,
Article - Commercial Law
Section 12-905(b) and (e)
Annotated Code of Maryland
(1990 Replacement Volume and 1995 Supplement)

BY adding to

Article - Commercial Law

Section 12-905(g)

Annotated Code of Maryland

(1990 Replacement Volume and 1995 Supplement)

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

Article - Commercial Law

12-905.

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