About Statutes

This page accesses the Code of Maryland (Statutes) and the Maryland Municipal Charters and Resolutions as compiled and maintained by the Department of Legislative Services.

The Code is arranged by and organized into “Articles” (e.g. Transportation Article), which are further subdivided into “titles”, “subtitles”, “sections”, “subsections”, “paragraphs”, subparagraphs”, etc.

Note that the “official” compilation of the laws (Chapters) enacted at each session of the General Assembly is published by the State as the “Laws of Maryland”, commonly referred to as the “Session Laws”. The Session Laws for each session are compiled chronologically by chapter number and serve as the source law from which the statutes accessed here are derived.

While the “Laws of Maryland” (Session Laws) constitute the official laws of the State, this Code and the annotated versions noted below are accepted as “evidence” of the law in all State courts and by all public offices and officials (See § 10-201 of the Courts & Judicial Proceedings Article). However, in the event of a conflict between the Code and the Session Laws, the Session Laws prevail.

Note: Annotated versions of the Code, published by LexisNexis and West, are available in book and online formats. These Annotated Codes include references to case law, related citations, and explanatory notations.

The Municipal Charters are updated each year by incorporating all charter resolutions received by the Department through May 31 of that year. Individual Municipal Resolutions are published to the General Assembly website as they are received by the Department.

Statute Text

Article - Courts and Judicial Proceedings
(a)   A money judgment entered in an action arising from a contract for the loan of money shall carry interest at the rate charged in the contract on any balance remaining unpaid until the date of maturity of the contract as originally scheduled. However, the rate of interest shall be on the unpaid principal of the money borrowed. The provisions of this section do not apply to any loan secured by a mortgage or deed of trust. The provisions of this section do not apply when the contractual rate of interest for a student loan of money is less than the prevailing legal rate of interest allowable on the judgment, as set forth in § 11-107 of this subtitle, unless the agreement for the loan of money expressly provides otherwise.
(b)   In this section, “student loan” means any loan or advance of funds, money, or credit to an individual by an institution of higher learning or a lender to defray, in part or in full, educational or educational related expenses. It includes national defense, national direct, health professional, and nursing student loans.