296 LAWS OF MARYLAND [CH. 146

Code (1951 Supplement), being Article 16 of the Code
of Public Local Laws of Maryland, title "Montgomery
County", sub-title "Chevy Chase Village", providing that
the Treasurer of Chevy Chase Village may invest funds
in United States Government securities but in no other
securities.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Sub-section b. of Section 122-4 of the
Montgomery County Code (1951 Supplement), being
Article 16 of the Code of Public Local Laws of Maryland,
title "Montgomery County", sub-title "Chevy Chase Vil-
lage", be and it is hereby repealed and re-enacted, with
amendments, to read as follows:

122-4.

b. The Board of Managers shall elect from among its
members the following officers:

A Chairman—whose duties shall be to preside at the
meetings of the Board of Managers and at the annual and
special meetings of the said Chevy Chase Village, to call
special meetings, to countersign checks properly issued by
the Treasurer and to act generally as the chief executive
officer of Chevy Chase Village.

A Vice-Chairman—whose duties shall be to act in the
place of the Chairman during his absence or incapacity and
to countersign checks properly issued by the Treasurer in
the absence of the Chairman.

In the event of the incapacity or absence of both the
Chairman and Vice-Chairman, the Board of Managers
shall appoint a Temporary Chairman to act in the place of
the Chairman and he shall have the power to countersign
all checks in addition to his other powers and duties.

A Secretary—who shall be the custodian of all records,
correspondence and other documents of Chevy Chase
Village and who shall take the minutes of all meetings of
the Board of Managers and who shall otherwise perform
the duties of a Secretary.

A Treasurer—whose duties shall be the custodian of all
funds which are received to the credit of Chevy Chase
Village and who shall deposit all such funds in such banks
as may be approved by the Board of Managers or invest
such funds in securities of the United States Government,
but in no other securities whatsoever, and who shall pay
out such funds only in accordance with this Chapter as