MARVIN MANDEL, Governor                            2637

ACCRUE TO THE DATE OR REDEMPTION OF THE BONDS. THE
PROVISIONS OF THIS SUBTITLE GOVERN: (1) THE ISSUANCE OF
THE BONDS, (2) THEIR MATURITIES AND OTHER DETAILS, (3)
THE RIGHTS, AND REMEDIES OF THE BONDHOLDERS, (4) THE
SECURITY OF THE BONDHOLDERS, AND (5) THE RIGHTS, DUTIES
AND OBLIGATIONS OF THE BOARD.

(B) BONDS ISSUED UNDER THE PROVISIONS OF THIS
SUBTITLE ARE SECURITIES IN WHICH ALL: (1) PUBLIC OFFICERS
AND PUBLIC AGENCIES OF THE STATE AND ITS POLITICAL
SUBDIVISIONS, (2) BANKS, TRUST COMPANIES, SAVINGS AND
LOAN ASSOCIATIONS, INVESTMENT COMPANIES AND OTHERS
CARRYING ON A BANKING BUSINESS, (3) INSURANCE COMPANIES
AND INSURANCE ASSOCIATIONS AND OTHERS CARRYING ON AN
INSURANCE BUSINESS, (4) ADMINISTRATORS, EXECUTORS,
GUARDIANS, TRUSTEES, AND OTHER FIDUCIARIES, AND (5) ALL
OTHER PERSONS, MAY LEGALLY AND PROPERLY INVEST FUNDS,
INCLUDING CAPITAL IN THEIR CONTROL OR BELONGING TO THEM,
THE BONDS ARE SECURITIES WHICH MAY PROPERLY AND LEGALLY
BE DEPOSITED WITH AND RECEIVED BY ANY STATE OR MUNICIPAL
OFFICER OR ANY AGENCY OR POLITICAL SUBDIVISION OF THE
STATE FOR ANY PURPOSE FOR WHICH THE DEPOSIT OF BONDS OR
OTHER OBLIGATIONS OF THE STATE IS AUTHORIZED BY LAW.

82.

(A)      THE TITLE TO ANY PROPERTY ACQUIRED OR
CONSTRUCTED UNDER THE PROVISIONS OF THIS SUBTITLE SHALL
BE IN THE STATE OF MARYLAND TO THE BENEFIT AND USE OF THE
BOARD OF [[REGENTS]] TRUSTEES OF MORGAN STATE UNIVERSITY.

(B)     THE STATE OF MARYLAND CONSENTS TO THE USE OF
ANY LANDS OWNED BY IT WHICH MAY BE SUITABLE AND NECESSARY
FOR THE CONSTRUCTION OR OPERATION OF ANY OF THE BUILDINGS
AND FACILITIES AUTHORIZED BY THE PROVISIONS OF THIS
SUBTITLE.

SECTION 3. AND BE IT FURTHER ENACTED, That if any
provision of this Act or the application thereof to any
person or circumstance is held invalid for any reason,
the invalidity shall not affect the other provisions or
any other application of this Act which can be given
effect without the invalid provisions or application, and
to this end all the provisions of this Act are declared
to be severable.

SECTION 4. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved May 15, 1975.