Marvin Mandel, Governor                        1417

of said bond and the substitution of a bond with such securities as
are hereinbefore provided for, and any such bank or trust company
may at any time, withdraw from the State Treasurer such collateral
securities with the bond to which the securities are attached and
file, in lieu thereof, such bonds as have heretofore been accepted by
the State Treasurer; provided that no substitution of the bond with
collateral or a bond with other securities for the bond with collateral
shall be made oftener than once in each twelve months, or as the
Treasurer may, in his discretion, prescribe.

Sec. 2. And be it further enacted, That this Act shall take effect
June JULY 1, 1971.

Approved May 24, 1971.

CHAPTER 666
(Senate Bill 581)

AN ACT to repeal and re-enact, with amendments, Section 4 (h) of
Article 43C of the Annotated Code of Maryland (1970 Supple-
ment), title "Health," subtitle "Maryland Health and Higher Edu-
cational Facilities Authority"; to change the requirements for
surety bonding of the members, the executive director and the
employees of the Maryland Health and Higher Educational Facil-
ities Authority.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 4 (h) of Article 43C of the Annotated Code of Maryland
(1970 Supplement), title "Health," subtitle "Maryland Health and
Higher Educational Facilities Authority," be and it is hereby repealed
and re-enacted, with amendments, to read as follows:

4.

(h) Each member of the Authority [shall execute a surety bond in
the penal sum of fifty thousand dollars ($50,000.00) and the executive
director shall execute a surety bond in the penal sum of one hundred
thousand dollars ($100,000.00) or, in lieu thereof, the chairman of
the Authority shall execute a blanket position bond covering each
member], the executive director and the employees of the Authority,
shall, upon entering the performance of their duties, be covered by
a surety bond in accordance with the provisions of Sections 46
through 50 of Article 78A of this Code, [any such surety bond to be
conditioned upon the faithful performance of the duties of the office
or offices covered, to be executed by a surety company authorized to
transact business in this State as surety and to be approved by the
Attorney General and filed in the office of the Secretary of State. The
cost of each such bond shall be paid by the Authority.]

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1971.

Approved May 24, 1971.