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Ch. 26
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PARRIS N. GLENDENING, Governor
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State, 136 Md. 342, 345 (1920); Dutton v. State, 123 Md. 373, 378 (1914);
and Williams v. State, 4 Md. App. 342, 347 (1968).
In subsection (d) of this section, the reference to a violation being "subject
to § 5-106(b) of the Courts Article" is substituted for the former reference
to the violation subjecting the defendant to imprisonment "in the
penitentiary", for clarity and consistency within this article. See General
Revisor's Note to article.
The Criminal Law Article Review Committee notes, for the consideration
of the General Assembly, that in subsection (a)(1) of this section, the
defined term "revenue officer" appears to encompass only an officer
collecting revenue for the State or a county, and not any other political
subdivision such as a municipal corporation, special taxing district, or
bi-county agency. The General Assembly may wish to address this
apparent omission in substantive legislation.
Defined term: "County" § 1-101
7-115. REHYPOTHECATION OF PERSONAL SECURITIES.
(A) PROHIBITED.
WHILE A CONTRACT OF PLEDGE OR HYPOTHECATION IS IN EFFECT, A PERSON
MAY NOT, WITHOUT THE CONSENT OF THE PLEDGOR, REPLEDGE OR
REHYPOTHECATE A SECURITY, THE TITLE TO WHICH PASSES BY DELIVERY OR
ENDORSEMENT RECEIVED OR HELD BY THE PERSON AS GUARANTY FOR MONEY
LENT OR ADVANCED TO THE OWNER OR HOLDER OF THE SECURITY.
(B) PENALTY.
A PERSON WHO VIOLATES THIS SECTION IS GUILTY OF A MISDEMEANOR AND
ON CONVICTION IS SUBJECT TO IMPRISONMENT NOT EXCEEDING 5 YEARS OR A FINE
OF AT LEAST $500 AND NOT EXCEEDING $5,000 OR BOTH.
(C) STATUTE OF LIMITATIONS AND IN BANC REVIEW.
A PERSON WHO VIOLATES THIS SECTION IS SUBJECT TO § 5-106(B) OF THE
COURTS ARTICLE.
REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 27, § 215.
In subsection (a) of this section, the former reference to any "bank, building
association or corporation" is deleted as included in the defined term
"person". Similarly, in subsection (b) of this section, the former reference to
every "officer of such bank, building association or corporation" is deleted
as included in the defined term "person". See § 1-101 of this article.
Also in subsection (a) of this section, the former references to "stocks,
bonds" are deleted as included in the comprehensive references to
"security" for brevity.
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- 545 -
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