MARVIN MANDEL, Governor

2351

FOR the purpose of correcting an erroneous reference to
the Maryland Housing Fund and technical errors in
the laws relating to banks and trust companies.

BY repealing and re-enacting, with amendments,

Article 11 — Banks and Trust Companies

Section 94, 108-1 and 206

Annotated Code of Maryland

(1968 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Sections 94, 108-I and 206 of Article 11 -
Banks and Trust Companies, of the Annotated Code of
Maryland (1968 Replacement Volume and 1974 Supplement) be
and they are hereby repealed and re—enacted, with
amendments, to read as follows:

Article 11 — Banks and Trust Companies

94.

Nothing in any law of this State, shall in any
manner whatsoever affect the validity of, or render void
or voidable, the payment, certification or acceptance of
a check or other negotiable instrument or any other
transaction by a banking institution in this State,
either (1) because done or performed on any Saturday
between twelve o'clock noon and midnight, or (2) because
done or performed on any day which would be a legal
holiday but for the election of the bank or trust company
to remain open under § [11A] 12 of Article 13 of this
Code, or any amendment thereof, provided that such action
be during the customary business hours of said bank and
that said bank is actually open for business and provided
such payment, certification, acceptance, or other
transaction would be valid if done or performed on any
ordinary business day. Nothing herein shall be
construed to compel any banking institution in this
State, which by law or custom is entitled to close at
twelve o'clock noon on any Saturday, or which is
similarly entitled to close on any legal holiday, to keep
open for the transaction of business or to perform any of
the acts or transactions aforesaid, on any Saturday after
such hour or on any legal holiday, except at its own
option.

108-I.

Any banking institution which rejects an application
for a residential mortgage must provide, in writing, upon