MARVIN MANDEL, Governor

761

AN ACT concerning

Garrett County - Alcoholic Beverage

FOR the purpose of eliminating the limit on the working
capital reserve fund of the Garrett County Liquor
Control Board; and clarifying language.

BY repealing and re—enacting, with amendments,

Article 2B — Alcoholic Beverages

Section 16 5 (b-1)

Annotated Code of Maryland

(1968 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 165 (b-1) of Article 2B - Alcoholic
Beverages, of the Annotated Code of Maryland (1963
Replacement Volume and 1974 Supplement) be and it is
hereby repealed and re—enacted, with amendments, to read
as follows:

Article 2B — Alcoholic Beverages

165.

(b-1) In Garrett County all net profits arising from
the operation of the dispensaries shall be first applied
towards the payment of any and all suns advanced to or
borrowed by the liquor control board. After such sums
have been paid, the [said] board shall be authorized to
create and maintain a reserve fund [not to exceed
$100,000.00 including the total inventory of stock and
supplies on hand,] to provide adequate working capital
and to meet any losses that may be sustained by the board
in the operation of the dispensaries, all net profits in
excess of the above shall belong to and be paid over to
the County Commissioners of Garrett County at such times
as the Garrett County liquor control board shell, is
their discretion, deem appropriate, but all accumulated
profits, if any, [must] SHALL be paid to the county
treasurer on February 1 and September 1 of every year.

SECTION 2. AND BE IT FURTHER ENACTED, that this Act
shall take effect July 1, 1975.

Approved April 1, 1975.