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Maryland Manual, 1977-78
Volume 178, Page 117   View pdf image (33K)
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STATE TREASURER
WILLIAM S. JAMES, Treasurer, 1979
EDWIN J. SCHAMEL, Chief Deputy
CHARLES R. JONES, JR., Deputy
FREDERICK H. KLINKEN, Deputy
EVA N. HUBBARD, Deputy
LILLIAN M. CLAYTOR, Deputy
Post Office Box 666, Annapolis 21404 Telephone: 269-3533
1835 Maryland National Bank Building, Baltimore 21202 Telephone: 383-2040
Under the Constitution of 1776, there were two State Treasurers — the Treasurer of
the Eastern Shore and the Treasurer of the Western Shore. In 1841 a constitutional
amendment consolidated the two offices. The present constitution provides that the
Treasurer shall be elected by joint ballot of both Houses of the General Assembly for a
term of four years. The Treasurer is responsible for accounting for all deposits made
each day by some two hundred and forty (240) State Agencies in depositories desig-
nated and authorized by him. The Treasurer prepares all checks drawn for disbursement
of State cash funds, and he and one of his Deputies signs these checks, which are then
countersigned by the Comptroller and one of his authorized Deputies. The Treasurer in-
vests any unexpended or surplus funds in the State Treasury, representing both the general
and special funds of the State, which are not currently required to meet State needs. He
is the custodian of all stocks, bonds or other investments of the State, as well as se-
curities which are pledged by Insurance Companies, foreign Building and Homestead
Associations, and all collateral which is pledged by banks that have State Funds on
deposit. He is also charged with the responsibility of placing insurance for all anticipated
losses which might occur to State property, and is the custodian of all insurance policies.
The State Treasurer does the preliminary planning, the preparation and advertising for
State of Maryland Bond Issues, receives bids and arranges for settlement, and the
signing and delivery of State of Maryland bonds. He publishes a monthly balance in Bal-
timore City Newspapers, of all State Funds held in authorized depositories, and renders a
quarterly report of cash receipts and cash disbursements to the Comptroller of the Treas-
ury. He is, by law, a member of the Board of Public Works, the Board of Trustees of
the three Retirement Systems, the State Board of Canvassers, the Maryland Industrial De-
velopment Financing Authority, a number of other boards and commissions, and is also the
custodian of such special deposits as may from time to time be prescribed by law (Const.
1867, Art. VI, sees. 1, 2, 3, 4; Code 1957, 1969 Repl. Vol., 1975 Supp., Art. 95).
Staff: 1975, 29; 1976, 32; 1977, 34.

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Maryland Manual, 1977-78
Volume 178, Page 117   View pdf image (33K)
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