HARRY HUGHES, Governor

1751

CHAPTER 374

(House Bill 511)

AN ACT concerning

State Bank Commissioner

FOR the purpose of continuing the existence of the State
Bank Commissioner and the Banking Board in accordance
with the Regulatory Programs Evaluation Act (sunset
law) by extending to a certain date the termination
provisions relating to the statutory and regulatory
authority of this agency and the regulation of banks;
and requiring a study of the "sunset" law to be
conducted.

BY repealing and reenacting, with amendments,

Article - Financial Institutions
Section 2-401 and 2-402
Annotated Code of Maryland
(1980 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be repealed, amended, or enacted to read as follows: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 - Financial Institutions

2-401.

Subject to the evaluation and reestablishment
provisions of the Regulatory Programs Evaluation Act of
1978, the provisions of this article that create the office
of the Bank Commissioner or relate to the powers and duties
of the Bank Commissioner and any regulations adopted under
these provisions shall terminate and be of no effect after
[July 1, 1982] JULY 1, 1988.

2-402.

Subject to the evaluation and reestablishment
provisions of the Regulatory Programs Evaluation Act of
1978, the following provisions of this article that create
or relate to the Banking Board and any regulations adopted
under these provisions shall terminate and be of no effect
after [July 1, 1982] JULY 1, 1988:

(1)  Title 2, Subtitle 2 ("Banking Board");

(2)  § 2-302 ("Membership");