HARRY HUGHES, Governor

3227

After December 31, 1963, any insurer may file with the
Commissioner a written notice of its election to comply with
the provisions of this subsection after a specified date
before January 1, 1968. After the filing of [such] notice,
then upon [such] THE specified date (which shall be the
operative date of this subsection for [such] THE insurer),
this subsection shall become operative with respect to the
industrial policies thereafter issued by [such] THE insurer.
If an insurer [makes no such] DOES NOT MAKE AN election, the
operative date of this subsection for [such] THE insurer
shall be January 1, 1968.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 27, 1980.

CHAPTER 877

(Senate Bill 639)

AN ACT concerning

Creation of a State Debt - Marley Creek Dredging

FOR the purpose of authorizing the creation of a State Debt
in the amount of $800,000 $300,000, the proceeds to be
used for the dredging of the Marley Creek in Anne
Arundel County, subject to the condition that a certain
matching fund be provided for the same purpose by a
certain date; providing that the payment of any funds
under the provisions of this Act, and the granting of a
certain license, shall be contingent upon certain
conditions; and providing generally for the issue and
sale of bonds evidencing the loan.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

(1) The Board of Public Works may borrow money and
incur indebtedness on behalf of the State of Maryland
through a State loan to be known as the Marley Creek
Dredging Loan of 1980 in the aggregate principal amount of
$800,000 $300,000. This loan shall be evidenced by the
issuance and sale of State general obligation bonds
authorized by a resolution of the Board of Public Works and
issued, sold and delivered in accordance with the provisions
of §§ 19 to 23 of Article 31 of the Annotated Code of
Maryland (1976 Replacement Volume and 1979 Supplement, as
amended from time to time).