Ch. 762                           MARVIN MANDEL, Governor                                1595

TWO-THIRDS VOTE OF THE TRUSTEES, IF PERMITTED BY THE
DECLARATION OF TRUST, MAY AMEND OR ALTER THE
PROVISIONS OF THE DECLARATION OF TRUST IF NECESSARY TO
MEET THE REQUIREMENTS FOR QUALIFICATION AS A REAL
ESTATE INVESTMENT TRUST UNDER THE PROVISIONS OF THIS
ARTICLE OR SECTIONS 856-858 OF THE FEDERAL INTERNAL
REVENUE CODE OF 1954 AS AMENDED FROM TIME TO TIME OR
REGULATIONS PROMULGATED THEREUNDER. All such amendments
shall be filed with the Department of Assessments and Taxation.

5.

NOTWITHSTANDING ANY PROVISION OF THIS ARTICLE
REQUIRING A GREATER PROPORTION THAN A MAJORITY OF THE
VOTES OF THE SHARES OR CERTIFICATES OF BENEFICIAL
INTEREST ENTITLED TO BE CAST, TO TAKE OR AUTHORIZE ANY
ACTION, ANY TRUST BY ITS DECLARATION OF TRUST MAY
PROVIDE THAT THIS ACTION MAY BE TAKEN OR AUTHORIZED
UPON THE CONCURRENCE OF A SMALLER PROPORTION, BUT NOT
LESS THAN A MAJORITY, OF THE AGGREGATE NUMBER OF THE
VOTES ENTITLED TO BE CAST THEREON, AND ANY ACTION TAKEN
OR AUTHORIZED IN ACCORDANCE WITH THIS DECLARATION OF
TRUST PROVISIONS IS VALID AND EFFECTIVE.

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

Approved May 24, 1973.

CHAPTER 763
(House Bill 313)

AN ACT to add new [[Sections]] Section 29 [[and 30]] to Article 19 of the
Annotated Code of Maryland ([[1966 Replacement Volume and 1972]] 1971
Supplement), title "Comptroller", to follow immediately after Section 28
thereof and to be under the new sub-title "Superintendence of the Fiscal Affairs
of the State", and to repeal and re-enact, with amendments, Section 61B(f) of
Article 40 of the said Code, (1971 Replacement Volume), title "General
Assembly", sub-title "Department of Fiscal Services", sub-heading "Division of
Audits"; [[to provide for the method of enforcing]] to require the Comptroller
to direct compliance by the offices and agencies of the State with the directives
of the Comptroller and the recommendations made by the Legislative Auditor
as a result of his examinations of said offices and agencies, [ [including penalties
for failure to comply with orders of the Comptroller,]] and to provide [[for
the]] that actions taken by the State Comptroller [[and]] be reported to the
Joint Budget and Audit Committee with regard to audit reports and compliance
with recommendations of the Legislative Auditor.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new [[Sections]] Section 29 [[and 30]] be and [[they are]]
it is hereby added to Article 19 of the Annotated Code of Maryland ([[1966
Replacement Volume and 1972]] 1971 Supplement), title "Comptroller", to follow
immediately after Section 28 thereof and to be under the new sub-title
"Superintendence of the Fiscal Affairs of the State," and to read as follows: