BLAIR LEE III, Acting Governor

983

CHAPTER 68

(Senate Bill 272)

AN ACT concerning

State Treasurer and Board of Public Works - Shares of
Stock and Securities in Banks

FOR the purpose of transferring to the State Treasurer the
authority to sell shares of stock, debentures, or
certificates of beneficial interest in banks; and
providing for the disposition of the proceeds of that
sale.

BY repealing

Article 78 A - Public Works

Section 11

Annotated Code of Maryland

(1975 Replacement Volume and 1977 Supplement)

BY adding to

Article 95 — Treasurer

Section 24A

Annotated Code of Maryland

(1969 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be repealed, amended, or enacted to read as follows: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 78A - Public Works

[11.

The Board of Public Works is authorized and empowered,
in its discretion, to sell at public or private sale, any
shares of stock, debentures or certificates of beneficial
interest in any banking institution of this State, now or
hereafter held by the State Treasurer, but the proceeds of
any such sale shall be paid into the general treasury of the
State, to be appropriated therefrom in the manner and for
the purposes prescribed in the budget.]

Article 95 — Treasurer

24A.

(A) THE TREASURER MAY SELL AT PUBLIC OR PRIVATE SALE
ANY SHARES OF STOCK, DEBENTURES, OR CERTIFICATES OF
BENEFICIAL INTEREST IN ANY BANKING INSTITUTION OF THIS STATE
HELD BY HIM.