356                               Laws of Maryland                        [Ch. 281

Edition), title "Charles County", sub-title "County Treasurer",
relating to deposits or investments of county funds in Charles
County by the treasurer of said county, and correcting an error
therein.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 92 of Article 9 of the Code of Public Local Laws of
Maryland (1930 Edition), title "Charles County", sub-title "County
Treasurer", be and it is hereby repealed and re-enacted, with amend-
ments, to read as follows:

92. (a) The said treasurer shall keep and pay over, according to
law, or upon the order of the County Commissioners, the proceeds
of all county taxes levied in said county, collected by him, and shall
also keep and pay over to the Treasurer of the State, according to
law, all State taxes in said county collected by him, and he shall
keep a full, particular and correct account of all moneys received by
him and paid out by him and of all matters relating to the duties
of his office, together with all vouchers relating thereto; and he
shall present, quarterly, to the County Commissioners, a true and
faithful account of all moneys received and disbursed by him, and
all cash on hand during the preceding quarter; the said reports to
begin not later than the expiration of the first quarter after the
term of office of said treasurer shall begin. [The said treasurer
shall deposit all moneys collected by him in some safe bank or trust
company that will pay interest on said deposits and in the name of
himself as Treasurer of Charles County; and the]

(b) The Treasurer shall invest in short-term United States Govern-
ment Securities, or deposit in income producing bank accounts, or
a building association deposit such county funds as are not required
to be used within ninety days for disbursement or expenditures for
county purposes, subject to the approval of the County Commis-
sioners as to the amount so available for such investment or deposit
and the acceptable securities or depositories, without relieving the
treasurer of liability for the security of such investment or deposit
according to law. Such deposits shall only be made when the bank
or building association has set aside a like amount of bonds in escrow,
as prescribed by law, covering bank deposits or building association
deposits, as such deposit is secured by Government Insurance. Inter-
est earned on investment in any one fiscal year must be used the
following fiscal year for general county expenses. The treasurer
shall pay out [the same] all moneys only upon orders from the
County Commissioners or any other body that may be authorized by
law to give said orders, by check upon said bank or trust company,
signed by said treasurer. It shall be in the power of the County
Commissioners to require money to be paid by the treasurer at any
time he may have it in his possession or deposited as aforesaid, for
the payment of bills that may be levied against the county, and the
failure of the treasurer to conform to the requirements of the County
Commissioners to such payment as herein set forth, shall subject
the said treasurer to a liability to the county for an amount equiva-
lent to all such money thus held by him and ordered to be paid over
at six per centum per annum, until it shall be so paid over and also
a deduction of all commission on said money until said requirements
shall be carried out as designated by the County Commissioners.
The County Commissioners may at any time they see fit require the