622 LAWS OF MARYLAND. [CH. 385

ties: Bonds or other interest-bearing obligations of the United
States of America, the State of Maryland, or political sub-
divisions of the State of Maryland; and provided further,
that such investment shall at all times be so made that all
the assets of the fund shall always be readily convertible into
cash when needed for the payment of benefits. The treasurer
shall dispose of securities or other properties belonging to the
unemployment compensation fund only under the direction
of the Board.

ADMINISTRATIVE ORGANIZATION

10. (b) Co-ordinate Divisions. The Board shall establish
two co-ordinate divisions: The Maryland State Employment
Service created pursuant to Section 12 of this Act, and the
Unemployment Compensation Division. Each division shall
be responsible for the discharge of its distinctive functions.

ADMINISTRATION

11. (g) Records and Reports. Each employing unit shall
keep true and accurate employment records, containing such
information as the Board may prescribe. Such records shall
be open to inspection and be subject to being copied by the
Board or its authorized representatives at any reasonable
time and as often as may be necessary. The Board may re-
quire from any employing unit any sworn or unsworn reports,
with respect to persons employed by it, which the Board
deems necessary for the effective administration of this Act.
Information thus obtained shall not be published or be open to
public inspection (other than to public employees in the per-
formance of their public duties) in any manner revealing the
employing unit's identity, but any claimant at a hearing
before a special examiner, a referee or the Board shall be
supplied with information from such records to the extent
necessary for the proper presentation of his claim. Any em-
ployee of the Board who violates any provision of this section
shall be fined not more than f 1, 000. 00 or imprisoned for not
longer than one year, or both.

No report, communication or any other such matter either
oral or written from the employee or employer to each other
or to the Board or any of its agents, representatives or em-
ployees, which shall have been written, sent, delivered or made
in connection with the requirements and administration of
this Act shall be made the subject matter or basis of any suit
for slander or libel in any court.

(h) Oaths and Witnesses. In the discharge of the duties
imposed by this Act, any duly authorized representative or
member of the Board shall have power to administer oaths