MARVIN MANDEL, Governor

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FOR the purpose of permitting the Treasurer of the State
and certain local officials to deposit moneys of the
State in savings and loan associations or in
building and loan associations.

BY repealing and re—enacting, with amendments,

Article 95 — Treasurer

Section 21, 21A(a) and 22

Annotated Code of Maryland

(1969 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Sections 21, 21A(a) and 22 of Article 95 -
Treasurer, of the Annotated Code of Maryland (1969
Replacement Volume and 1974 Supplement) be and they are
hereby repealed and re—enacted, with amendments, to read
as follows:

Article 95 — Treasurer

21.

The Treasurer may deposit the moneys of the State in
a bank or banks as he may so select, or in a trust
company or trust companies, incorporated under the laws
of this State and doing business therein, OR IN A SAVINGS
AND LOAN ASSOCIATION OR SAVINGS AND LOAN ASSOCIATIONS, OR
IN A BUILDING AND LOAN ASSOCIATION OR BUILDING AND LOAN
ASSOCIATIONS, INCORPORATED UNDER THE LAWS OF THE UNITED
STATES OR INCORPORATED UNDER THE LAWS OF THIS STATE, as
he may, from time to time, with the approval of the
Governor, select. These depositories shall give security
in the form of collateral as provided for in § 21A of
this article, satisfactory to the Governor and the
Treasurer, for the safekeeping and forthcoming, when
required, of these deposits.

21A.

(a) Notwithstanding any provision of this Code to
the contrary, any bank or trust company selected as a
depository for State moneys according to § 21 of this
article may give as security for these moneys any of the
following types of collateral:

(1)    Obligations issued, insured or
guaranteed by the United States government;

(2)    Obligations of the World Bank and the
Inter—America Development Bank;