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BENE. FIN. CO. v. ADM'R, LOAN LAWS

[No. 212, September Term, 1970.]

260 Md. 430 (1971)

272 A.2d 649

BENEFICIAL FINANCE CO. OF LANDOVER v. ADMINISTRATOR OF LOAN LAWS OF THE STATE OF MARYLAND

Court of Appeals of Maryland.

Decided January 14, 1971.

Attorney(s) appearing for the Case

Lewis A. Noonberg and Norman P. Ramsey, with whom was Alan N. Gamse on the brief, for appellant.

Stanford D. Hess, Assistant Attorney General, with whom was Francis B. Burch, Attorney General, on the brief, for appellee.

The cause was argued before HAMMOND, C.J., and BARNES, McWILLIAMS, FINAN, SMITH and DIGGES, JJ.

HAMMOND, C.J., delivered the opinion of the Court.

The question presented is whether an unintentional clerical miscalculation of interest by a small loan licensee that caused a charge to a borrower greater than that permitted by the governing statute voided the loan completely under the provisions of Code (1968 Repl. Vol.), Art. 58A, § 16 (d). Judge Sodaro, sitting in the Baltimore City Court, in a thoughtful and sound opinion, held that it did, affirming the...

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