12                                            LAWS OF MARYLAND                               Ch. 6

accounts of member credit unions in order that the
shareholdings and deposits of any person in a member
credit union shall be protected or guaranteed against
loss. The amount OF loss to be protected or guaranteed
shall be established from time to time by the corporation
with the approval of the supervisor. However, the amount
of loss to be protected or guaranteed may not be less
than $40,000 per account or a higher amount if so
determined by the board.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1976.

Approved March 16, 1976

CHAPTER 7
(Senate Bill 309)

AN ACT concerning

Corrective Bill - State Bond Bills

FOR the purpose of correcting a technical error in the
laws relating to the form of State bond bills.

BY repealing and reenacting, with amendments,

Article 31 - Debt   - Public

Section 20(a)

Annotated Code of   Maryland

(1971 Replacement   Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 20(a) of Article 31 - Debt -
Public, of the Annotated Code of Maryland (197 1
Replacement Volume and 1975 Supplement) be and it is
hereby repealed and reenacted, with amendments, to read
as follows:

Article 31 - Debt - Public

20.

(a) An enabling act may take substantially the
following form:

"A Bill entitled

An act to authorize the creation of a State debt in
the amount of $....., the proceeds to be used (here
generally describe the purpose to which the proceeds are