1682                                                 LAWS OF MARYLAND                            [Ch. 437

certain limitations.
BY adding to

Article 23 — Corporations

Section 161Z(a) (14) and (b) (7)

Annotated Code of Maryland

(1973 Replacement Volume and 1973 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Sections 161Z(a) (14) and (b) (7) be and
they are hereby added to Article 23 — Corporations, of
the Annotated Code of Maryland (1973 Replacement Volume
and 1973 Supplement) to read as follows:

Article 23 — Corporations
161Z.

[[(A) (14) IN STOCK, BONDS, NOTES OR OTHER
OBLIGATIONS OF UNITED STATES GOVERNMENT SPONSORED PRIVATE
OR PUBLIC CORPORATIONS CREATED TO PROVIDE LIQUIDITY
PRIMARILY THROUGH INSTITUTING SECONDARY MARKET AND
WAREHOUSING FACILITIES, AND IN INSURED STUDENT LOANS MADE
BY BANKS, SAVINGS AND LOAN ASSOCIATIONS AND EDUCATIONAL
INSTITUTIONS UNDER A GUARANTEED STUDENT LOAN PROGRAM.
THE GUARANTEED STUDENT LOAN PROGRAM STUDENT LOAN MAY BE
INSURED EITHER BY THE UNITED STATES GOVERNMENT, A STATE
INSURANCE PROGRAM, OR A NON-PROFIT PRIVATE AGENCY.]]

(A)     (14) ANY OBLIGATIONS OR OTHER INSTRUMENTS OR
SECURITIES OF THE STUDENT LOAN MARKETING ASSOCIATION.

(B)     (7) [[IN THE DEPOSITS WITH OR OBLIGATIONS OF
ANY OTHER INSURED ASSOCIATIONS CHARTERED BY THE STATE OF
MARYLAND AFTER RECEIVING THE APPROVAL]] IN THE INSURED
DEPOSITS OF ANY OTHER INSURED ASSOCIATION AFTER RECEIVING
THE APPROVAL OF THE DIRECTOR OF THE DIVISION OF BUILDING,
SAVINGS AND LOAN ASSOCIATIONS.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1974.

Approved April 30, 1974.

CHAPTER 438
(House Bill 285)