1266

LAWS OF MARYLAND

Ch. 473

Replacement Volume and 1975 Supplement) be and it is
hereby repealed and reenacted, with amendments, to read
as follows:

Article 11 — Banks and Trust Companies

41.

(e) Any mutual savings bank shall have power to
act as trustee under a retirement plan qualified under
the act of Congress known as the Self—Employed
Individuals Retirement Act of 1962, as heretofore, and
hereafter amended, OR OF AN INDIVIDUAL RETIREMENT ACCOUNT
QUALIFIED UNDER THE ACT OF CONGRESS KNOWN AS THE
"EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974," AS
HERETOFORE OR HEREAFTER AMENDED, provided that the terms
of the plan require the funds of the trust established to
be invested exclusively in deposits in mutual savings
banks. In the event that any employee benefit plan
which, in the judgment of the savings bank, constituted a
qualified plan under EITHER OF the [act ] ACTS and the
regulations promulgated at the time the trust was
established and accepted by the savings bank is
subsequently determined not to be a qualified plan or
subsequently ceases to be a qualified plan, in whole or
in part, the savings bank may, nevertheless, continue to
act as trustee of any deposits made under the plan and to
dispose of the deposits consistently with its duties as
trustees. The savings bank shall not be required to
segregate deposits held as trustee from other deposits in
the savings bank, but it shall keep appropriate records
showing in proper detail all transactions engaged in as
trustee.

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

Approved May 4, 1976.

CHAPTER 474

(House Bill 1138)

AN ACT concerning

Prince George's County - Affidavit of Disclosure
in Public Schools
PG 227-76

FOR the purpose of requiring certain parents or guardians
of public school students to sign an affidavit of
legal residence; and making this Act an emergency
measure.