BLAIR LEE III, Acting Governor

435

IN:

(1)   THE ARMED FORCES;

(2)   THE PEACE CORPS; OR

(3)   VISTA.

(D) EXCEPTIONAL CIRCUMSTANCES.

(1)   THE CORPORATION MAY MAKE OR GUARANTEE A LOAN
UNDER TERMS AND CONDITIONS OF REPAYMENT THAT ARE MORE
LENIENT OR MORE RESTRICTIVE THAN THOSE PROVIDED IN THIS
SECTION IF THE BOARD DETERMINES THAT THIS IS JUSTIFIED BY
SPECIAL CIRCUMSTANCES AND IS CONSISTENT WITH THE GENERAL
OBJECTIVES OF THE CORPORATION.

(2)   IF THE BORROWER IS A MEDICAL STUDENT, THE
BOARD SHALL CONSIDER ANY PERIOD OF FORMAL INTERNSHIP,
RESIDENCY TRAINING, OR FELLOWSHIP, AND THE FINANCIAL NEED OF
THE BORROWER IN DETERMINING THE PERIOD OF REPAYMENT.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 43A, §§ 7

and 7B.

In subsection (a) (2) and (c) (2) of this section,
reference to "VISTA" is substituted for the
present "Service as a full-time volunteer under
title VIII of the Economic Opportunity Act of
1964".

In subsection (b) of this section, present Art.
43A, §7(b) is revised to clarify that a borrower
is required to repay the full amount of the loan.

18-1010. CONTRIBUTIONS TO CORPORATION AUTHORIZED.

NOTWITHSTANDING THE PROVISIONS OF ANY GENERAL OR
SPECIAL LAW, CERTIFICATE OF INCORPORATION, CHARTER, OR OTHER
ARTICLES OF ORGANIZATION, ANY PERSON IS AUTHORIZED TO MAKE
CONTRIBUTIONS TO THE MARYLAND HIGHER EDUCATION LOAN
CORPORATION. THESE CONTRIBUTIONS SHALL BE ALLOWED AS
DEDUCTIONS IN COMPUTING THE NET TAXABLE INCOME OF THE
PERSON FOR PURPOSES OF ANY INCOME OR FRANCHISE TAX IMPOSED
BY THIS STATE OR ANY OF ITS COUNTIES.

REVISOR'S NOTE: This section presently appears as Art.
43A, §9.

The present references to "corporations or
associations" are deleted as unnecessary in light
of the definition of "person" in §1-101 of this
article.

The only other changes are in style.

18-1011. DEBTS OF CORPORATION NOT DEBTS OF STATE.