HARRY HUGHES, Governor

3629

(G) A DISPLACED HOMEMAKER WHO HAS RECEIVED A LOAN UNDER THE
PROGRAM SHALL:

(1)  REPAY THE LOAN DIRECTLY TO THE LENDING
INSTITUTION;

(2)  IF GAINFULLY EMPLOYED, BEGIN MAKING PAYMENTS ON
THE LOAN NOT LATER THAN 90 DAYS FROM COMPLETING OR WITHDRAWING
FROM A COURSE; AND

(3)  IF NOT GAINFULLY EMPLOYED, BEGIN MAKING PAYMENTS
EQUAL TO THE INTEREST ON THE LOAN UNTIL GAINFULLY EMPLOYED. THE
INTEREST PAYMENTS SHALL COMMENCE NOT LATER THAN 6 MONTHS FROM
COMPLETING OR WITHDRAWING FROM A COURSE.

(H) WHEN A LENDING INSTITUTION MAKES A LOAN UNDER THE
PROGRAM, THE INSTITUTION SHALL:

(1) CHARGE INTEREST OF NOT MORE THAN 8 PERCENT; AND

(1) CHARGE THE INTEREST RATE ESTABLISHED BY THE
MARYLAND HIGHER EDUCATION LOAN CORPORATION; AND

(2)  SET A PAYBACK PERIOD OF NOT MORE THAN 60 MONTHS.

(I) IF A DISPLACED HOMEMAKER DEFAULTS ON A LOAN UNDER THE
PROGRAM, ALL COMMERCIAL LENDING LAWS AND COLLECTION PROCEDURES
SHALL APPLY.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1984.

Approved May 29, 1984.

CHAPTER 774

(House Bill 1166)

AN ACT concerning

Prince George's County - Alcoholic Beverages -
License Conditions
PG 307-84

FOR the purpose of authorizing the Prince George's County Board

of License Commissioners to impose conditions upon

individual licenses; granting the Board certain

discretionary powers when applying license conditions;

stating that the conditions need not be uniform; and
providing the time when conditions are applied to a license.