1038                             LAWS OF MARYLAND                       [CH. 715

266Y. Record of accounts.

The Authority shall keep proper records of accounts and shall make
an annual report of its condition and operations to the Governor.

266Z. Authority to provide funds.

If from time to time in the opinion of the Authority the addition
of moneys to the mortgage insurance fund is required to meet obliga-
tions, the Authority in writing shall request the Governor to provide
sufficient moneys for this purpose. The Governor shall MAY submit
this request to the next regular session of the General Assembly, as an
item of appropriation in the Budget Bill.

266AA. Interest of members of Authority.

No member of the Authority may participate in any decision on
any contract of insurance in which he has any interests, direct or
indirect, in any firm, partnership, corporation, or association which
would be the mortgagee, whose loan to a mortgagor is insured by
the Authority, or if he has any interest, direct or indirect, in any
firm, partnership, corporation or association which would rent, lease
or otherwise occupy the premises constructed by the mortgagor
where said mortgage is insured by the Authority, or if he is a director
or officer or otherwise associated with the local development corpora-
tion whose mortgage is insured by the Authority.

266BB. Appropriation.

For the purpose of establishing the mortgage insurance fund and
for the initial expenses in establishing the Authority as herein pro-
vided, the Governor shall place in the Budget Bill an item of one
hundred thousand dollars ($100,000) for the fiscal year ending June
SO, 1966; one hundred thousand dollars ($100,000) for the fiscal year
ending June 30, 1967; one hundred thousand dollars ($100,000) for
the fiscal year ending June 30, 1968; one hundred thousand dollars
($100,000) for the fiscal year ending June 30, 1969; and one hundred
thousand dollars ($100,000) for the fiscal year ending June 30, 1970.
Any unexpended balance of any or all such appropriations shall be
carried forward to succeeding fiscal years for the purposes aforesaid.

266CC. Constitutional construction.

The provisions of this sub-title are sever able, and if any of its
provisions are held unconstitutional by any court of competent juris-
diction, the decision of such court shall not affect or impair any of
the remaining provisions.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1965.

Approved May 4, 1965.

CHAPTER 715
(House Bill 308)

AN ACT to repeal and re-enact, with amendments, Subsection 243
(n) of Article 48A of the Annotated Code of Maryland (1964