BLAIR LEE III, Acting Governor                         1283

partnership or association, EXCEPT, IF THAT INDIVIDUAL HOLDS
ONLY A LIMITED INTEREST LIABILITY--INTEREST IN A LIMITED
PARTNERSHIP, THE COMPUTATION OF THAT PARTNERSHIP'S
INDIVIDUAL'S LIABILITY FOR INCLUSION IN THE TOTAL LIABILITY
MAY NOT EXCEED THE VALUE OR THAT LIMITED PARTNER'S INTEREST
IN THE LIMITED PARTNERSHIP. In computing the total
liabilities of any partnership or unincorporated association
to a tank or trust company, there shall he included all
liabilities of its individual members, and all loans made
for the benefit of such partnership or unincorporated
association or any member thereof. In computing the total
liabilities of any corporation to a bank or trust company
there shall be included all loans made for the benefit of
the corporation. A loan shall be deemed to be made for the
benefit of the corporation or copartnership to the extent
that the proceeds of such loan are transferred to the
corporation, copartnership or association. In reckoning
the liability of any borrower hereunder there shall not be
included its readily marketable bonds or like obligations
held by a bank or a trust company as an investment; nor
shall said thirty per cent. (30%) limit apply to any loan
made to the State of Maryland or to any county or
municipality thereof maturing in less than one year.
Provided, however, that the limitations provided by this
section shall not apply to any loan which does not exceed
the sum of thirty—five hundred dollars ($3,500.00), unless
such loan exceeds 20% of the surplus and paid—in capital;
and provided further that the limitations of this section
shall not apply to any liabilities lawfully incurred prior
to June 1, 1937. For the purposes of this section the term
"bank" shall include savings institutions having a capital
stock.

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

Approved May 2, 1978.

CHAPTER 246

(Senate Bill 530)

AN ACT concerning

Motor Vehicle Administration — Special
Identification Cards

FOR the purpose of giving to special identification cards
issued by the Motor Vehicle Administration the same
validity as driver's licenses when used for
identification purposes only.

BY repealing and reenacting, with amendments,