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2909
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MARVIN MANDEL, Governor
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are not attributable to a beneficiary of such a
trust for purposes of the State financial disclosure
law.
BY repealing and reenacting, with amendments,
Article 33 - Election Code
Section 29-6(c)
Annotated Code of Maryland
(1976 Replacement Volume and 1976 Supplement)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 29-6(c) of Article 33 - Election
Code, of the Annotated Code of Maryland (1976 Replacement
Volume and 1976 Supplement) be and it is hereby repealed
and reenacted, with amendments, to read as follows:
Article 33 - Election Code
29-6.
For the purposes of section 29-5 (a), (b), and (c)
and the disclosures therein required, the following shall
be considered to be the interests of the person making
the statement:
(c) Any interest held by a trust[, other than a
common trust fund, under which trust the person making
the statement held a reversionary interest at any time
during the year for which the statement is filed, or
under which trust the person making the statement was at
any time during that year a truster, if a revocable
trust, or a beneficiary.] IN WHICH, AT ANY TIME DURING
THE YEAR FOR WHICH THE STATEMENT IS FILED, (1) THE PERSON
MAKING THE STATEMENT HELD A REVERSIONARY INTEREST OR WAS
A BENEFICIARY, OR (2) IF A REVOCABLE TRUST, IN WITH
RESPECT TO WHICH THE PERSON MAKING THE STATEMENT WAS A
SETTLOR. A TRUST, WITHIN THE MEANING OF THIS SUBSECTION,
DOES NOT INCLUDE A COMMON TRUST FUND OR A TRUST WHICH
FORMS PART OF A PENSION OR PROFIT SHARING PLAN WHICH HAS
MORE THAN 25 PARTICIPANTS AND WHICH HAS BEEN DETERMINED
BY THE INTERNAL REVENUE SERVICE TO BE A QUALIFIED TRUST
UNDER §§ 401 AND 501 OF THE INTERNAL REVENUE CODE OF
1954.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1977.
Approved May 26, 1977.
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CHAPTER 723
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