PARRIS N. GLENDENING, Governor

Ch. 653

SECTION 3. AND BE IT FURTHER ENACTED, That this Act applies to a
letter of credit that is issued on or after the effective date of this Act. This Act does not
apply to a transaction, event, obligation, or duty arising out of or associated with a letter
of credit that was issued before the effective date of this Act.

SECTION 4. AND BE IT FURTHER ENACTED, That a transaction arising out
of or associated with a letter of credit that was issued before the effective date of this Act
and the rights, obligations, and interests flowing from that transaction are governed by
any statute or other law amended or repealed by this Act as if repeal or amendment had
not occurred and may be terminated, completed, consummated, or enforced under that
statute or other law.

SECTION 5. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1997.

Approved May 22, 1997.

CHAPTER 653
(House Bill 247)

AN ACT concerning

Wicomico County - Rights of Redemption - Limit on Reimbursement of Foreclosure

Expenses

FOR the purpose of providing that in Wicomico County certain persons are not entitled
to be reimbursed for certain expenses in connection with the foreclosure of a right
of redemption that are incurred within a certain period after the tax sale; and
providing for a certain exception.

BY repealing and reenacting, with amendments,
Article - Tax - Property
Section 14-843

Annotated Code of Maryland
(1994 Replacement Volume and 1996 Supplement)

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

Article - Tax - Property

14-843.

(a) Except as provided in subsection (b) of this section, on redemption, the
plaintiff or the holder of a certificate of sale is entitled to be reimbursed for expenses
incurred in any action or in preparation for any action to foreclose the right of
redemption. In addition, the plaintiff or holder of a certificate of sale, on redemption, is
entitled to be reimbursed for fees paid for recording the certificate of sale, for attorney's
fees in the sum of $400 for each certificate of sale, for expenses incurred in the

- 3673 -