1282                                      LAWS OF MARYLAND                                Ch. 631

TREASURER. SHALL DIVEST HIMSELF OF ALL SUCH CAPITAL
STOCK OR PLACE IT IN THE CORPUS OF A TRUST OVER WHICH HE
HAS NO CONTROL; BUT THIS PROVISION DOES NOT APPLY TO THE
TREASURER IN OFFICE AS OF THE EFFECTIVE DATE OF THIS
SECTION; FOR THE REMAINDER OF THE CURRENT TERM OF
OFFICE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1973.

Approved May 21, 1973.

CHAPTER 632
(House Bill 1424)

AN ACT to propose an amendment to Section 3 of Article VI of the Constitution
of Maryland, title "Treasury Department," to provide that the Legislature may
authorize a system of disbursing funds other than by the use of checks, and
providing for the submission of this amendment to the qualified voters of the
State of Maryland for their adoption or rejection.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, (Three-fifths of all members elected to each of the two Houses
concurring), That the following be and the same is hereby proposed as an
amendment to Section 3 of Article VI of the Constitution of Maryland, title
"Treasury Department," the same, if adopted by the legally qualified voters of the
State, as herein provided, to become a part of the Constitution of Maryland, and
to read as follows:

3.

The Treasurer shall receive the moneys of the State, and, until otherwise
prescribed by law, deposit them, as soon as received, to the credit of the State, in
such bank or banks as he may, from time to time, with the approval of the
Governor, select (the said bank or banks giving security, satisfactory to the
Governor, for the safekeeping and forthcoming, when required of said deposits),
and he or such of his deputies as may be authorized to do so by the Legislature
shall disburse the same for the purposes of the State according to law, upon
warrants drawn by the Comptroller, or his duly authorized deputy, and on checks
countersigned by the Comptroller, or his duly authorized deputy [, and not
otherwise]. THE LEGISLATURE MAY PRESCRIBE, BY LAW, FOR THE
TREASURER TO DISBURSE THE MONEYS OF THE STATE BY A
SYSTEM OTHER THAN BY THE USE OF CHECKS. The Treasurer or such
of his deputies as may be authorized to do so by the Legislature shall take receipts
for all moneys paid from the Treasury Department; and receipt for moneys
received by him shall be endorsed upon warrants signed, by the Comptroller, or
such deputy as may be authorized to do so by law, without which warrants, so
signed, no acknowledgment of money received into the Treasury shall be valid; and
upon warrants issued by the Comptroller, or his duly authorized deputy, the
Treasurer shall make arrangements for the payment of the interest of the public
debt, and for the purchase thereof, on account of the sinking fund. Every bond,
certificate, or other evidence of the debt of the State shall be signed by the
Treasurer, Chief Deputy Treasurer, or a Deputy Treasurer, and countersigned by
the Comptroller, Chief Deputy Comptroller, or a Deputy Comptroller; and no new