296                              LAWS OF MARYLAND                     [CH. 118

"Higher Education Loan Program," be and they are hereby repealed
and re-enacted, with amendments, to read as follows:

5.

(e) To adopt rules and regulations, not inconsistent with law,
governing the application for and the granting, administration and
repayment of loans, or the guarantee of loans, made by the corpora-
tion, the eligibility of students, colleges, vocational schools and lend-
ing institutions to participate in the program, and governing any
other matters relating to the activities of the corporation. The board
may adopt such rules and regulations as may be necessary to conform
its loan and guarantee policies and requirements to the requirements
of the United States Commissioner of Education. The board shall
require all persons borrowing from the corporation, or borrowing
funds guaranteed by the corporation, to pay interest on the amount
borrowed during the term of the loan in such amount not exceeding
[six] seven SUCH per centum per annum AS MAY BE ALLOWED
BY THE UNITED STATES COMMISSIONER OF EDUCATION
and at such intervals as the board may fix; provided, however, that
any part of such interest which may be paid or payable by the United
States government, or any department, agency, or office thereof,
shall not be collected from such persons.

6.

No loan made or guaranteed by the corporation shall bear interest
at a rate in excess of [six] seven SUCH per cent per annum; AS
MAY BE ALLOWED BY THE UNITED STATES COMMISSIONER
OF EDUCATION; and no interest upon any loan made or guaran-
teed by the corporation shall be compounded; however, interest upon
any such loan may be accumulated.

Sec. 2. And be it further enacted, That this Act is hereby declared
to be an emergency measure and necessary for the immediate preser-
vation of the public health and safety and having been passed by a
yea and nay vote supported by three-fifths of all the members elected
to each of the two houses of the General Assembly, the same shall
take effect from the date of its passage.

Approved April 9, 1969.

CHAPTER 118
(Senate Bill 347)

AN ACT to repeal and re-enact, with amendments, Section 40 (m)
of Article 10 of the Annotated Code of Maryland (1968 Replace-
ment Volume), title "Attorneys at Law and Attorneys in Fact,"
subtitle "State's Attorney," to provide for an increase in the salary
of the State's Attorney for Harford County and to prohibit the
State's Attorney from engaging in the private practice of law
while in office.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 40 (m) of Article 10 of the Annotated Code of Mary-