482

LAWS OF MARYLAND

Ch. 33

without substantive change from Art. 23, §
16lZ(a).

In this section, the defined term "real
property", which is defined to include any
interest in real property, is substituted for the
phrases "real estate" or "real or leasehold
property".

In item (2)(ii)2. of this section, "any office
of the association in this State" is substituted
for "any Maryland principal or Maryland branch
office of the association".

Item (3) of this section is new language implied
from the provision in § 9—420(1) of this subtitle
that provides the authority for participation
outside this State. On the advice of the Board
of Commissioners this provision is added here for
clarity.

In item (4) of this section, the present phrase
"issuing from real estate located" is deleted as
unnecessary.

In item (5) of this section, "{a}ny general
obligation" is substituted for "bonds, notes, or
other evidences of indebtedness which are general
obligations" for clarity.

In item (6)(i) of this section, the phrase
"whether or not the property is also income
producing in part" is substituted for "the power
to derive revenue, by rental or otherwise, from
any portion of such real estate".

In item (6) (ii) of this section,     the present

phrases "public or private,       judicial or

otherwise" and "legal or equitable"     are deleted
as unnecessary.

In item (7) of this section, the present word
"chattels" is deleted as included in "equipment".

In item (8) of this section, the present word
"equity" is deleted as included in "interest".

Also in item (8) of this section, the phrase
"prior lien on the project" is substituted for
the phrase "project as a whole may be subject to
a prior lien".

In item (10)(ii) of this section, the phrase "in
business for at least 10 years" is substituted
for "actively engaged in the banking business for
a period of at least 10 years" for clarity.