904

LAWS OF MARYLAND

Ch. 330

provided for by law for any member shall be reduced
thereby. Every member shall be deemed to consent and
agree to the deductions made and provided for herein and
shall receipt for his OF HER full salary or compensation,
and payment of salary or compensation less said deduction
shall be a full and complete discharge and acquittance of
all claims and demands whatsoever for the services
rendered by such person during the period covered by such
payment, except as to the benefits provided under this
subtitle. The superintendent of schools for each county,
AND BALTIMORE CITY shall certify to the board of trustees
on each and every payroll or in such other manner as the
board of trustees may prescribe, the amounts to be
deducted; and when deducted shall be paid into [said] THE
Annuity Savings Fund, and shall be credited, together
with regular interest thereon to the individual account
of the member from whose compensation said deduction was
made. ANY COUNTY OR BALTIMORE CITY SCHOOL SYSTEM OR
INSTITUTION FAILING TO PAY TO THE RETIREMENT SYSTEM THE
DEDUCTIONS FROM COMPENSATION OF TEACHERS ON THE DATE THE
TEACHERS ARE PAID SHALL BE LIABLE FOR A PENALTY OF 10
PERCENT OF THE AMOUNTS DUE. THE SECRETARY OF THE BOARD,
HOWEVER, [[MAY]] [[SHALL]] MAY ALLOW A GRACE PERIOD NOT
TO EXCEED [[15]] [[2]] 10 additional calendar days. All
amounts due and unpaid on the date of payment shall also
bear interest at the rate of 10 percent until the date of
payment. The State comptroller, upon notification by the
secretary that a delinquency exists, shall immediately
exercise the right of set—off against all or any moneys
due or to become due to the delinquent school system or
institution.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect June 1, 1976.

Approved May 4, 1976.

CHAPTER 331
(Senate Bill 834)

AN ACT concerning

Pensions — State Employees

FOR the purpose of requiring payment by the member or
municipal corporation for certain service credit
with a municipal corporation.

BY repealing and reenacting, with amendments,

Article 73B — Pensions
Section 9(13)