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HARRY HUGHES, Governor 2369
(C) ANY PERSON OR ANY AIDER AND ABETTOR, WHO VIOLATES ANY
PROVISION OF THIS SUBHEADING IS GUILTY OF A MISDEMEANOR AND ON
CONVICTION IS SUBJECT TO A FINE NOT EXCEEDING $50,000 OR
IMPRISONMENT IN THE PENITENTIARY NOT EXCEEDING 5 YEARS, OR BOTH.
13-412. 266LL-13.
THE DEPARTMENT SHALL PROMULGATE SUCH RULES AS ARE NECESSARY
TO CARRY OUT THE PURPOSES OF THIS SUBHEADING.
SECTION 2. AND BE IT FURTHER ENACTED, That the Governor
shall carry out the provisions of this Act by establishing a
revolving fund of $750,000 to be initially financed with a
general obligation bond.
SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1983.
May 31, 1983
The Honorable Kelvin A. Steinberg
President of the Senate
State House
Annapolis, Maryland 21404
Dear Mr. President:
In accordance with Article II, Section 17 of the Maryland
Constitution, I have today vetoed Senate Bill 496.
This bill permits and sets guidelines for life insurers to
include in life insurance policies issued after the effective
date of this Act a provision for periodic adjustment of policy
loan interest rates.
House Bill 893, which was passed by the General Assembly and
signed by me on May 31, 1983, accomplishes the same purpose.
Therefore it is not necessary for me to sign Senate Bill 496.
Sincerely,
Harry Hughes
Governor
Senate Bill No. 496
AN ACT concerning
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