4546

LAWS OF MARYLAND

Ch. 826

Development Credit Corporation of Maryland

FOR the purpose of transferring from the Annotated Code of
Maryland to the Session Laws certain provisions
relating to the Development Credit Corporation of
Maryland; incorporating a charter amendment adopted by
the Corporation and relating to a limitation on its
total indebtedness to its members; correcting and
clarifying references to the Corporation and certain
other references and cross references; transferring to
Article 81 - Revenue and Taxes, provisions as to
certain exemptions from taxation and certain tax
credits; adding to the Financial Institutions Article
a provision to clarify that banking institutions are
authorized to be members of the Corporation and
withdraw from it; deleting certain obsolete provisions
relating to the Corporation beginning business by a
certain date and the filing of a certificate of
business; deleting certain obsolete references to the
first annual meeting of the Corporation; deleting
certain obsolete provisions relating to borrowing money
from members; deleting certain provisions that relate
to a pledge of the State's credit to secure debt
instruments of the Corporation and to debt instruments
thus secured; providing for interpretation of this Act;
and generally relating to the Corporation.

BY renumbering

Article - Financial Institutions

Section 5-510

to be Section 5-511

Annotated Code of Maryland

(1980 Volume and 1981 Supplement)

BY repealing and reenacting, with amendments,

Article 41 - Governor - Executive and

Administrative Departments
Section 257D(a)(2)
Annotated Code of Maryland
(1978 Replacement Volume and 1981 Supplement)

BY adding to

Article - Financial Institutions

Section 5-510

Annotated Code of Maryland

(1980 Volume and 1981 Supplement)

BY repealing and reenacting, with amendments,
and transferring