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LAWS OF MARYLAND

Ch. 46

as that occupied before promotion, except that if such step
is higher than that held by any employee who (1) is already
in the rank and (2) has equal or higher total service time,
a deputy sheriff upon promotion shall be entitled only to
the pay specified for the new rank in the step next lower
than that occupied before promotion. The Board of County
Commissioners shall make such appropriations for these
salaries.] THE BOARD OF PUBLIC SAFETY SHALL APPROVE ALL
PROMOTIONS UPON RECOMMENDATION OF THE SHERIFF. SUCH
PROMOTIONS SHALL BECOME EFFECTIVE ONLY UPON THE CONCURRENCE
OF THE COUNTY COMMISSIONERS AND SHALL BE SUBJECT TO THE
AVAILABILITY OF FUNDS BUDGETED FOR SUCH PROMOTIONS.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1979.

Approved April 10, 1979.

CHAPTER 47

(House Bill 49)

AN ACT concerning

Banks and Trust Companies - Deposits

FOR the purpose of authorizing a savings bank, a commercial
bank and a trust company to deposit securities to
secure deposits of other states and their political
subdivisions; and generally relating to securing
deposits of other states and their subdivisions.

BY repealing and reenacting, with amendments,

Article - Corporations and Associations
Section 6-116(7)(i) and 6-137(14)(i)
Annotated Code of Maryland
(1975 Volume and 1978 Supplement)

BY repealing and reenacting, with amendments,

Article 11 - Banks and Trust Companies

Section 41(f)

Annotated Code of Maryland

(1976 Replacement Volume and 1978 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be repealed, amended, or enacted to read as follows: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 - Corporations and Associations