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§ 12-307. Certain fees

West's Annotated Code of MarylandCommercial Law

West's Annotated Code of Maryland
Commercial Law
Title 12. Credit Regulations
Subtitle 3. Consumer Loans--Credit Provisions (Refs & Annos)
MD Code, Commercial Law, § 12-307
§ 12-307. Certain fees
Currentness
(a) At the time a loan is made, a lender may collect from the borrower:
(1) As to any item of the total property that secures a loan:
(i) The fees paid to a public official or governmental agency for recording or satisfying a mortgage, encumbrance, or lien on any property securing the loan; or
(ii) An equal or lesser amount for nonfiling insurance premium on any property, or portion of the property, that is not recorded if:
1. The Insurance Commissioner approves the rates; and
2. A commission is not paid on the policy; and
(2) The title insurance premiums or reasonable attorney's fees paid for searching and insuring the title to any real property securing the loan.
(b) A lender may collect from the borrower a fee not exceeding $15 if payment is made with a check that is dishonored on the second presentment.

Credits

Added by Acts 1975, c. 49, § 3, eff. July 1, 1975. Amended by Acts 1977, c. 693, § 2; Acts 1979, c. 159; Acts 1979, c. 357; Acts 1980, c. 735; Acts 1984, c. 217; Acts 1991, c. 432.
Formerly Art. 11, § 196.
MD Code, Commercial Law, § 12-307, MD COML § 12-307
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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