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Session Laws, 1966
Volume 678, Page 340   View pdf image (33K)
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340                             LAWS OF MARYLAND                      [CH. 145

the playing or operation of any lottery, game, table, or gaming device
unlawful under the provisions of this article, all such money, cur-
rency or cash shall be deemed prima facie to be contraband of law
as a gambling device or as a part of a gambling operation. No such
money, currency or cash shall be returned to any person claiming
the same, or to any other person, except in the manner hereinafter
in this section provided.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1966.

Approved April 14, 1966.

CHAPTER 145
(Senate Bill 240)

AN ACT to repeal Sections 415 (h), 415 (i) and 415 (j) and to repeal
and re-enact, with amendments, Sections 415 (b), 416, 419 (b),
420 (a), 420 (c), 421 and 426 of Article 23 of the Annotated Code
of Maryland (1965 Supplement), title "Corporations", subtitle
"Development Credit Corporation", AND TO ADD A NEW SEC-
TION 426A TO SAID ARTICLE AND SUBTITLE, TO FOLLOW
IMMEDIATELY AFTER SECTION 426 THEREOF, to provide
that the faith and credit of the State of Maryland, UNDER CER-
TAIN CONDITIONS, may be pledged to secure certain bonds,
debentures, notes, or other evidences of indebtedness of Develop-
ment Credit Corporation issued on or after June 1, 1966, and
relating to the membership of the Board of Directors and of the
Loan Committees, amending certain corporate procedures, and
relating generally to Development Credit Corporation of Maryland,
its members, functions, committees, powers, and duties-; AND
PROVIDING FOR SUPERVISION OF THE DEVELOPMENT
CREDIT CORPORATION BY THE BANK COMMISSIONER OF
MARYLAND.

Section 1. Be it enacted by the General Assembly of Maryland,
That A NEW SECTION 426A BE AND IT IS HEREBY ADDED
TO ARTICLE 23 OF THE ANNOTATED CODE OF MARYLAND
(1965 SUPPLEMENT), TITLE "CORPORATIONS", SUBTITLE
"DEVELOPMENT CREDIT CORPORATION", TO FOLLOW IM-
MEDIATELY AFTER SECTION 426 THEREOF, AND THAT Sec-
tions 415 (h), 415 (i) and 415 (j) be, and they are hereby repealed,
and that Sections 415 (b), 416, 419 (b), 420 (a), 420 (c), 421 and
426 of Article 23 of the Annotated Code of Maryland (1965 Supple-
ment), title "Corporations", subtitle "Development Credit Corpora-
tion", be, and they are hereby repealed and re-enacted to read as
follows:

415. Board of directors.

(b) Election. At the first annual meeting of such corporation and
at each annual meeting thereafter, the members of such corporation
[from at least three of the economic regions as established under the
provisions of Section 413 of this subtitle,] shall elect ten directors,
not more than two directors and not less than one director to be

 

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Session Laws, 1966
Volume 678, Page 340   View pdf image (33K)   << PREVIOUS  NEXT >>


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