1222                           LAWS OF MARYLAND                      [CH. 590

102.

When a deposit has been made or shall hereafter be made in any
bank, savings institution or trust company, in the names of two
or more persons, payable to either, or payable to either or the sur-
vivor or survivors, such deposit or any part thereof, or any interest
or dividend thereon, may be paid to [either] any of said persons,
whether the other or others be living or not; and the receipt or
acquittance of the person so paid shall be a valid and sufficient
release and discharge to the bank for any payments so made.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1967.

Approved April 21, 1967.

CHAPTER 590
(House Bill 475)

AN ACT to repeal and re-enact, with amendments, Section 284-1
(a), (b), and (e) of Article 77 of the Annotated Code of Mary-
land (1965 Replacement Volume), title "Public Education," sub-
title "Chapter 27B—Postgraduate Fellowship Program," to amend
the law to change the eligibility requirements for postgraduate
fellowships at the University of Maryland, to change the duties
of the University of Maryland and to increase the maximum
amount of the fellowship awards.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 284-1 (a), (b), and (e) of Article 77 of the Annotated
.Code of Maryland (1965 Replacement Volume), title "Public Educa-
tion," subtitle "Chapter 27B—Postgraduate Fellowship Pro-
gram," be and it is hereby repealed and re-enacted, with amend-
ments, to read as follows:

284-I.

(a) In addition to any other scholarships that may be awarded
or provided for under other provisions of this article, there shall
be a program for fellowships under the provisions of this section,
for postgraduate work in the Graduate School of the University
of Maryland at College Park. To be eligible for being awarded and
for holding one of these fellowships, a student must be [(1) a
resident of the State of Maryland, (2)] (1) a graduate of and
holding a degree from a standard four-year college course in an
institution of higher learning [in the State of Maryland] which has
been accredited by the Middle States Association of Colleges and
Secondary Schools, [(3)] (2) recommended for graduate study by
the executive head of the institution of higher learning [in Mary-
land] from which he has received his degree, and [(4)] (3) covered
by an [surety bond] pledge to AGREEMENT WITH the State of
Maryland, in such amount and with such security as may be deter-
mined by the University of Maryland, that (if he can secure such a
position), he will teach in a public institution of higher learning in