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1284 LAWS OF MARYLAND Ch. 633
FOR THE BANKING SERVICES PROVIDED THE STATE. THE
TREASURER ALSO MAY PLACE LIMITS UPON THE TOTAL AMOUNT
OF STATE FUNDS ON DEPOSIT WITH A BANK OR TRUST COMPANY
AND REQUIRE THAT ANY FUNDS IN EXCESS OF THE LIMITS BE
INVESTED AND THE PROCEEDS FROM ANY INVESTMENT BE PAID
TO THE STATE.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1973.
Approved May 21, 1973.
CHAPTER 634
(House Bill 1426)
AN ACT to add new Section 8A to Article 95 of the Annotated Code of
Maryland (1969 Replacement Volume), title "Treasurer", to follow immediately
after Section 8 thereof, to require that the State Treasurer submit an annual
report to the Governor and the General Assembly.
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 8A be and it is hereby added to Article 95 of the
Annotated Code of Maryland (1969 Replacement Volume), title "Treasurer", to
follow immediately after Section 8 thereof, and to read as follows:
8A.
THE TREASURER SHALL FURNISH TO THE GOVERNOR AND TO
THE GENERAL ASSEMBLY ON OR BEFORE JANUARY 1 OF EACH
YEAR A REPORT ON THE ACTIVITIES AND OPERATION OF THE
TREASURER'S OFFICE FOR THE PRECEDING FISCAL YEAR
INCLUDING, BUT NOT LIMITED TO, A STATEMENT ON THE
INTEREST EARNED ON INVESTMENTS, MANAGEMENT OF STATE
FUNDS, AND ADMINISTRATION OF THE INSURANCE PROGRAMS.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1973.
Approved May 21, 1973.
CHAPTER 635
(House Bill 1427)
AN ACT to add new Sections 92 through 96, inclusive, to Article 40 of the
Annotated Code of Maryland ([[1971 Replacement Volume and]] 1972
Supplement), title "General Assembly," to follow immediately after Section 91
thereof and to be under the new subtitle "Joint Committee on the Management
of Public Funds," to provide for a legislative committee on management of
public funds, to stipulate the appointment, functions, and power of the
committee, to provide for the duration of the committee's existence, and
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