1706                                          LAWS OF MARYLAND                        [Ch. 452

Article 95 — Treasurer

Section 13

Annotated Code of Maryland

(1969 Replacement Volume and 1973 Supplement)

Preamble

WHEREAS, Section 24 of Article 95 of the Annotated Code,
as added by Chapter 633 of the 1973 Laws of
Maryland, authorizes the State Treasurer to
compensate banks and trust companies which render
services for the State by entering into agreements
with such banks and trust companies for charges to
be made for the banking services performed on behalf
of the State, and

WHEREAS, However, Section 13 of Article 95, a
long—standing provision of that Article, prohibits
the State Treasurer from compensating the fiscal
agent, a bank president appointed by the Treasurer
to pay the interest on the public debt, for services
rendered, except for the cost of books and paper;
and

WHEREAS, In order to eliminate any possibility of
conflict between these two sections, to clarify the
legislative intent in the enactment of Section 24 of
Article 95, and because the State Treasurer has
requested an appropriation for the fiscal agent in
the State operating budget submitted to the 1974
General Assembly, it is necessary to repeal Section
13 of Article 95 of the Annotated Code in its
entirety; now, therefore.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 13 of Article 95 - Treasurer, of
the Annotated Code of Maryland (1969 Replacement Volume
and 1973 Supplement) be and it is hereby repealed:

Article 95 — Treasurer
13.

[In any arrangement the Treasurer may make with the
said president for the purpose aforesaid, it shall be
stipulated that for any or all the duties to be performed
the said agent shall receive no compensation whatever nor
shall he be reimbursed for any expenses whatever that may
be incurred in the performance of said duties, except the
actual cost of the necessary books, stationery and