BLAIR LEE III, Acting Governor                          963

shall take effect June 1, 1978.
Approved April 11, 1978.

CHAPTER 50

(Senate Bill 112)

AN ACT concerning

Mutual Savings Institutions

FOR the purpose of requiring certain mutual savings
institutions to publish financial reports as of the
last day of December and June, changing the time period
for publication and increasing the time period for
filing proof of publication with the bank commissioner.

BY repealing and reenacting, with amendments,

Article 11 — Banks and Trust Companies

Section 45

Annotated Code of Maryland

(1976 Replacement Volume and 1977 Supplement)

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be repealed, amended, or enacted to read as follows: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 11 - Banks and Trust Companies

45.

An abbreviated statement as of date the last day of
December AND THE LAST DAY OF JUNE of each institution so
reporting shall be published [during the month of January]
WITHIN 30 CAYS AFTER THE LAST DAY OF DECEMBER AND THE LAST
DAY OF JUNE in each year, in one or more newspapers in the
city or county in which the institution is located over the
names of president and treasurer. Such reports shall be in
such condensed form as may be prescribed by the Bank
Commissioner and such publication shall conform as nearly as
practicable to the forms required of banking institutions
under the jurisdiction of the federal authorities. Proof
of said publication shall be furnished to the Bank
Commissioner within [twenty (20)] 15 days after [the last
day of December of the year preceding] THE EXPIRATION OF THE
30 DAY PERIODS.

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

Approved April 11, 1978.