1. (a) At the time a loan is made, a lender may collect from the borrower:

   1. (1) As to any item of the total property that secures a loan:

      1. (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

      2. (ii) An equal or lesser amount for nonfiling insurance premium on any property, or portion of the property, that is not recorded if:

         1. 1. The Insurance Commissioner approves the rates; and
         2. 2. A commission is not paid on the policy; and
   2. (2) The title insurance premiums or reasonable attorney's fees paid for searching and insuring the title to any real property securing the loan.
2. (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.

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.