1352                             LAWS OF MARYLAND                       [CH. 572

SEC. 2. AND BE IT FURTHER ENACTED, THAT AS OF
APRIL 21, 1970, THIS PROGRAM SHALL SUPERSEDE AND
REPLACE ALL SENATORIAL SCHOLARSHIP PROGRAMS
EXISTING PRIOR TO THIS DATE, AND THEREAFTER, ALL
SENATORIAL SCHOLARSHIPS SHALL BE HELD ONLY IN
ACCORDANCE WITH THE TERMS OF THIS ACT. NOTHING
HEREIN SHALL BE CONSTRUED TO AFFECT ANY SCHOL-
ARSHIP GRANTED PRIOR TO APRIL 21, 1970, AND THE
RECIPIENT OF ANY SUCH SCHOLARSHIPS MAY CONTINUE
TO HOLD IT NOTWITHSTANDING THE ADOPTION OF THIS
ACT.

Sec. 2. 3. And be it further enacted, That this Act shall take
effect July 1, 1969.

Approved May 14, 1969.

CHAPTER 571
(Senate Bill 327)

AN ACT to add new Section 10 (d) to Article 49 of the Annotated
Code of Maryland (1968 Replacement Volume and 1968 Supple-
ment), title "Interest and Usury," to follow immediately after
Section 10 (c) thereof, to exempt lenders from disclosure provi-
sions for student loans made under the provisions of the Maryland
Higher Education Loan Corporation.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Section 10 (d) be and it is hereby added to Article 49 of
the Annotated Code of Maryland (1968 Replacement Volume and
1968 Supplement), title "Interest and Usury," to follow immediately
after Section 10 (c) thereof, and to read as follows:

10.

(d) This section shall not apply to loans made by a lender to stu-
dents under the provisions of the Maryland Higher Education Loan
Corporation.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1969.

Approved May 14, 1969.

CHAPTER 572
(Senate Bill 477)

AN ACT to repeal and re-enact, with amendments, Sections 5 (a) (1),
5 (a) (2), 7 (a) and 7 (b) of Article 43A of the Annotated Code
of Maryland (1968 Supplement), title "Higher Education Loan