BLAIR LEE III, Acting Governor                            1755

organization); when any of such property described above is
actually used exclusively for and necessary for charitable,
benevolent, or educational purposes (including athletic
programs and activities of an educational institution) in
the promotion of the general public welfare of the people of
the State. In the case of fraternal or sororal
organizations, the exemption shall extend only to those
existing solely for the mutual benefit of their members and
beneficiaries, which have a lodge system with ritualistic
form of work and a representative form of government, and
this term shall not mean any college or high school
fraternities or sororities or other fraternal or sororal
organizations with membership which is restricted wholly or
largely to students or graduates of educational institutions
or professional schools. This exemption shall also extend
to any property used for the purposes set out in this
subsection, which is held by a corporation or association or
by trustees for the sole benefit of any of the above
organizations. In the case of a nonprofit housing
corporation this exemption shall not extend to the property
of the nonprofit housing corporation based solely on the
fact that it is a nonprofit housing corporation; but rather,
on the fact that the corporation's property is, in fact,
devoted to a charitable, benevolent, educational or general
public welfare purpose.

Article 88C - State Planning

10.

(d) Notwithstanding [the provisions of § 15 (e) of
Article 77A of this Code, or] any other law[ , ] to the
contrary, all requests by State agencies, INCLUDING THE
UNIVERSITY OF MARYLAND, for capital projects shall be
accompanied with a detailed listing of all expenditures
proposed for capital improvements which will be funded from
nonbudgeted revenues or from grants of any kind.

Article 95 - Treasurer

23.

(a) Notwithstanding any provision of law to the
contrary, the Treasurer may invest and reinvest moneys of
the State in obligations guaranteed by the Maryland Higher
Education Loan Corporation [pursuant to Article 43A of this
Code] UNDER TITLE 18, SUBTITLE 10 OF THE EDUCATION ARTICLE,
under procedures, terms, and conditions, including the
imposition of service charges, as the Treasurer prescribes,
but:

(1)    The holders of the obligations shall be
banks (including commercial banks, savings banks, trust
companies, savings and loan associations, and building and
loan associations) approved by the Governor;

(2)    The total amount of State moneys which may
be invested at any one time in the obligations shall not