MARVIN MANDEL, Governor                                2315

authority:

(1)  To have perpetual succession, and to sue or be
sued in its own name and plead and be impleaded.

(2)   To adopt an official seal and alter the same at
its pleasure.

(3)  To adopt, promulgate, amend, and repeal bylaws
for the regulation of its affairs and the conduct of its
business.

(4)  To maintain offices at such place or places
within the State as it determines.

(5)   To employ such employees as are necessary for
the conduct of its business. All full—time employees
except the executive director are subject generally to
the provisions and restrictions of Article 64A of this
Code, title "Merit System," and also to the rights and
benefits of Article 73B of the Code, title "Pensions."]

[266FF-4.

(a)  The Division will utilize federal programs to
the maximum extent possible.

(b)   The Division shall not lend money where private
lending institutions can meet the needs of the applicant.

(c)  The Division shall adopt and enforce policies to
avoid creating or aggravating low income economic
concentrations which adversely affect communities.

(d)   The Division shall periodically review each
mortgage at not less than five—year intervals to
determine whether the applicant's circumstances and the
ability of private lenders to assume such mortgages at
now existing rates warrant termination of the
relationship between the mortgagor and the Division;
thereby assuring that this program in no way infringes on
the operations of the private mortgage market.

(e)   The Division shall make apportionments of funds
within the State to insure that all areas are served.]

SECTION 2. AND BE IT FURTHER ENACTED, That new
Sections 266FF—1 through 266FF—4 to be under the new
subtitle "Home Financing Program" be and they are hereby
added to Article 41 — Governor—Executive and
Administrative Departments, of the Annotated Code of
Maryland (1971 Replacement Volume and 1974 Supplement) to
read as follows: