1276

LAWS OF MARYLAND

Ch. 241

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 95 - Treasurer

19.

All bonds, certificates of stock and other securities
purchased or obtained by the Treasurer for the use of the
sinking fund, transferred and assigned to or deposited with
the Treasurer, in trust or otherwise, by any corporation of
this or any other state, or by any individual, pursuant to
any law or laws of this State, and all bonds, certificates
of stock and other securities belonging to the State shall
be deposited and kept in some safe deposit company in the
City of Baltimore to be selected by the Treasurer with the
approval of the Board of Public Works; the Treasurer alone
shall not be entitled to have access to the box, boxes,
vault or vaults, where such securities shall be kept, but on
all occasions when access to the same is to be had by him he
shall be accompanied by either the Governor, the
Comptroller, the chief deputy comptroller or a deputy
comptroller, and on all occasions when access to the same is
necessary and the Treasurer is unable to attend in person,
the chief deputy treasurer or a deputy treasurer shall be
entitled to have access thereto if accompanied by either the
Governor, the Comptroller [or], the chief deputy comptroller

OR A DEPUTY COMPTROLLER, OR A DEPUTY TREASURER IF

ACCOMPANIED BY EITHER THE GOVERNOR, THE COMPTROLLER, OR THE

CHIEF DEPUTY COMPTROLLER, SHALL BE ENTITLED TO HAVE ACCESS
THERETO; the box or boxes, vault or vaults, where such
securities shall be kept shall be so constructed that two
entirely different keys shall be required to gain access to
said securities, one of which keys for each such box or
vault shall be in the custody of the Treasurer and the other
in that of the Comptroller.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1978.

Approved May 2, 1978.

CHAPTER 242

(Senate Bill 491)

AN ACT concerning

State Depositories - Security

FOR the purpose of deleting the requirement that the
security given by a State depository be satisfactory to
the Governor, in addition to the Treasurer.