1628

LAWS OF MARYLAND

Ch. 306

Article - Agriculture

2-510.

(j) At the time of settlement of the purchase of an
easement, the landowner and the foundation may agree upon
and establish a schedule of payment such that the landowner
may receive consideration for the easement in a lump sum, or
in installments over a period of up to 10 years from the
date of settlement.

(1)  If a schedule of installments is agreed
upon, the Comptroller shall retain in the Maryland
Agricultural Land Preservation Fund an amount of money
sufficient to pay the landowner according to the schedule.

(2)  The landowner shall receive [annually]
interest on any unpaid balance remaining after the date of
settlement. [ Such interest shall be at the same rate as any
interest earned on the funds retained pursuant to (1) above,
less 1/4%.] THE STATE TREASURER SHALL INVEST THE UNPAID
BALANCE REMAINING AFTER THE DATE OF SETTLEMENT TO MATURE IN
ACCORDANCE WITH AN AGREED UPON SCHEDULE OF INSTALLMENTS AS
PROVIDED IN THIS SECTION. THE UNPAID BALANCE SHALL BE
INVESTED AT THE MAXIMUM INTEREST RATES PAYABLE ON TIME AND
SAVINGS DEPOSITS AT FEDERALLY INSURED COMMERCIAL BANKS. ANY
INTEREST EARNED ON THE INVESTED UNPAID BALANCE SHALL BE PAID
WITH THE INSTALLMENT WHEN DUE, LESS 1/4 OF 1 PERCENT.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 12, 1981.

CHAPTER 307

(Senate Bill 679)

AN ACT concerning

Vehicle Laws - Automotive Dismantlers and
Recyclers and Scrap Processors

FOR the purpose of prohibiting a person from conducting the
business of an automotive dismantler and recycler or a
scrap processor, or from engaging in the business of
towing, removing, or purchasing certain vehicles for
certain purposes unless the person is a licensed
automotive dismantler and recycler or scrap processor;
and prescribing certain penalties for violation.

BY repealing and reenacting, with amendments,