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§ 7-115. Rehypothecation of personal securities

West's Annotated Code of MarylandCriminal Law

West's Annotated Code of Maryland
Criminal Law (Refs & Annos)
Title 7. Theft and Related Crimes
Subtitle 1. Crimes Involving Theft
Part II. Related Crimes
MD Code, Criminal Law, § 7-115
Formerly cited as MD CODE Art. 27, § 215
§ 7-115. Rehypothecation of personal securities
Currentness
Prohibited
(a) 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.
Penalty
(b) 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 not less than $500 and not exceeding $5,000 or both.
Statute of limitations and in banc review
(c) A person who violates this section is subject to § 5-106(b) of the Courts Article.

Credits

Added by Acts 2002, c. 26, § 2, eff. Oct. 1, 2002. Amended by Acts 2003, c. 21, § 1, eff. April 8, 2003.
Formerly Art. 27, § 215.
MD Code, Criminal Law, § 7-115, MD CRIM LAW § 7-115
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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