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LAWS OF MARYLAND

Ch. 351

(2) To the extent that the mortgage payments are
insured by the Authority, are lawful investments for all
banks, trust companies, savings banks, credit unions,
savings and loan associations, investment companies,
insurance companies, personal representatives, guardians,
conservators, trustees, and other fiduciaries, and pension,
retirement, and profit-sharing funds.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act is
hereby declared to be an emergency measure and necessary for
the immediate preservation of the public health and safety
and having been passed by a yea and nay vote supported by
three-fifths of all the members elected to each of the two
Houses of the General Assembly, the same shall take effect
from the date of its passage.

SECTION 4. AND BE IT FURTHER ENACTED, That on July 1,
1980 the provisions of Section 2 of this Act shall take
effect and the provisions of Section 1 of this Act shall be
abrogated and of no further force and effect.

Approved May 6, 1980.

CHAPTER 352

(Senate Bill 978)

AN ACT concerning

Flood Control and Watershed Management

FOR the purpose of deleting sections relating to interim
flood hazard areas, maps, rules and regulations;
deleting definitions of "floodway" and "interim flood
hazard area" and references to those terms; changing
the definition of "100 year flood event" and adding
the requirements necessary for the implementation of a
Comprehensive Flood Management Grant Program; making
this Act contingent upon the enactment of another Act
except in certain political subdivisions where this
contingency does not apply; and providing which
subdivisions are eligible to receive certain grants
before the Department of Natural Resources promulgates
certain rules and regulations.

BY repealing and reenacting, with amendments,

Article - Natural Resources

Section 8-9A-01 through 8-9A-11, inclusive

Annotated Code of Maryland

(1974 Volume and 1979 Supplement)