722                              Laws of Maryland                       Ch. 323

troller from said office for that month, provided, however, that
written authority for such deduction shall be first obtained from the
State Comptroller. In the event that tax collections for the given
month are insufficient, the Comptroller shall make up the deficit
from funds provided in the State Budget for this purpose.

Sec. 2. And be it further enacted, That the provisions of this
Act shall not be construed to extend or apply to any Registers of
Wills in office on the effective date of this Act, but provisions of this
Act shall take effect with the next term of office.

Sec. 3. And be it further enacted, That this Act shall take effect
July 1, 1970.

Approved April 22, 1970

CHAPTER 323
(House Bill 42)

AN ACT to repeal and re-enact, with amendments, Section 11(15)
of Article 73B of the Annotated Code of Maryland (1967 Replace-
ment Volume), title "Pensions," subtitle "In General"; and Section
195(10) of Article 77 of said Code (1969 Supplement), title "Public
Education," subtitle "Chapter 17. Teachers' Retirement System,"
to reduce the service requirement for vesting of retirement allow-
ances for members of the State employees' and teachers' retirement
systems.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 11(15) of Article 73B of the Annotated Code of Mary-
land (1967 Replacement Volume), title "Pensions," subtitle "In
General," and Section 195(10) of Article 77 of said Code (1969
Supplement), title "Public Education," subtitle "Chapter 17. Teach-
ers' Retirement System," be and they are hereby repealed and
re-enacted, with amendments, to read as follows:

11.

(15) Anything in this article to the contrary notwithstanding,
any member whose service is terminated other than by death or
retirement after he has rendered [twenty] fifteen or more years of
creditable service may elect to receive a vested retirement allowance
in lieu of the return of his accumulated contributions. The vested
retirement allowance shall be a deferred allowance commencing at
age sixty and shall consist of:

(a)    An annuity which shall be the actuarial equivalent of the
member's accumulated contributions at age sixty; and

(b)    A pension computed as provided under paragraphs (b), (c)
and (e) of Section 11(3) of this article on the basis of his creditable
service and average final compensation at the time his service is
terminated.