Ch. 286                             MARVIN MANDEL, Governor                                  665

Approved May 7, 1973.

CHAPTER 285
(Senate Bill 1204)

AN ACT to add new Section 102A to Article 11 of the Annotated Code of
Maryland (1968 Replacement Volume), title "Banks and Trust Companies,"
subtitle "General Regulations," to follow immediately after Section 102 thereof,
to require notice to depositors as to survivorship rights in certain joint savings
accounts.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 102A be and it is hereby added to Article 11 of
the Annotated Code of Maryland (1968 Replacement Volume), title "Banks and
Trust Companies," subtitle "General Regulations," to follow immediately after
Section 102 thereof, and to read as follows:

102A.

WHENEVER THERE IS OPENED A SAVINGS ACCOUNT IN THE
NAMES OF TWO OR MORE PERSONS WHEREUPON AT. THE DEATH
OF ONE PARTY THE SURVIVORS WILL BE ENTITLED TO THE FUNDS
IN THE ACCOUNT OF THE DECEASED, THE DEPOSITOR MUST BE
NOTIFIED OF THIS FACT[[. THE BANK, SAVINGS INSTITUTION OR
TRUST COMPANY SHALL AT THE TIME THE ACCOUNT IS OPENED
SUPPLY THE DEPOSITOR WITH A WRITTEN STATEMENT AS TO
THESE RIGHTS OF SURVIVORSHIP AND THE [[DEPOSITORS]]
DEPOSITOR MUST SIGN A STATEMENT THAT HE RECEIVED THIS
INFORMATION. ] EITHER BY SO NOTING IN A PASSBOOK OR BY
PROVIDING THE DEPOSITORS WITH A COPY OF THE SIGNATURE
CARD CONTAINING SUCH INFORMATION.

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

Approved May 7, 1973.

CHAPTER 286
(Senate Bill 1215)

AN ACT to authorize the creation of a State [[Debt]] debt in the aggregate
amount of One Million Dollars ($1,000,000), the proceeds thereof to be used
exclusively for State grants to public and other nonprofit Community Mental
Health Center Components or Mental Retardation Facilities in this State for
the construction, acquisition, and/or renovation and equipping of Community
Mental Health Center Components and Mental Retardation Facilities, and
providing generally for the issue and sale of bonds evidencing such loan, and
providing for a certain contingency whereby this Act may be repealed and of no
further effect.