1752                                    LAWS OF MARYLAND                                 Ch. 374

(3)  § 3-607 ("Reserves");

(4)  § 5-501 ("New branches"); and

(5)  § 5-801 ("Removal of director or officer for
unsafe or unsound practices").

SECTION 2. AND BE IT FURTHER ENACTED, That the Policy
Committee of the General Assembly shall undertake a study of
the Act and shall report to the General Assembly by December
1, 1981. The study shall include an evaluation of the
quality and effectiveness of the evaluation performed under
this Act, the implementation of the recommendations made by
the Department of Fiscal Services, and the legislative
committees, and the impact of the Act on the General
Assembly.

SECTION 2 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 12, 1981.

CHAPTER 375

(House Bill 512)

AN ACT concerning

Maryland Real Estate Commission and Hearing Board

FOR the purpose of continuing the existence of the Maryland
Real Estate Commission and the Real Estate Hearing
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 the real estate business; and
requiring a study of the "sunset" law to be conducted.

BY repealing and reenacting, with amendments,

Article 56 - Licenses

Section 232A

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be repealed, amended, or enacted to read as follows: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