1740                                    LAWS OF MARYLAND                                 Ch. 365

the election for the purpose of determining his eligibility
for immediate vested rights and benefits in the Teachers'
Retirement System or the Pension System for the Teachers.
[However, any such person shall not withdraw his accumulated
contributions in the Annuity Savings Fund as long as he
continues in the employment of a State institution whose
employees are eligible for membership in the Teachers'
Retirement System or the Pension System for the Teachers.]
These benefits shall be computed only on the basis of years
of service otherwise creditable to him as a contributing
member of the Teachers' Retirement System or the Pension
System for the Teachers. ANY SUCH PERSON MAY WITHDRAW HIS
ACCUMULATED CONTRIBUTIONS IN THE ANNUITY SAVINGS FUND, WITH
INTEREST, AT OR AFTER THE TIME HE ELECTS TO JOIN AN OPTIONAL
RETIREMENT PROGRAM. IF A PERSON DOES WITHDRAW HIS
ACCUMULATED CONTRIBUTIONS, HE SHALL FORFEIT ANY RIGHT TO ANY
BENEFIT, WHETHER VESTED OR NOT, IN THE TEACHERS' RETIREMENT
SYSTEM OR THE PENSION SYSTEM FOR TEACHERS, AS APPLICABLE.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 12, 1981.

CHAPTER 366

(House Bill 494)

AN ACT concerning

Real Estate Guaranty Fund - Filing of Claims

FOR the purpose of providing a time limit within which
certain claims against the real estate guaranty fund
may be filed; making stylistic changes; and providing
for the application of this Act.

BY repealing and reenacting, with amendments,

Article 56 - Licenses

Section 217A(d)

Annotated Code of Maryland

(1979 Replacement Volume and 1980 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be repealed, amended, or enacted to read as follows: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 56 - Licenses

217A.