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721
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HARRY HUGHES, Governor
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(i) Subject to [the State Employees' Retirement
Law, participate in the State Employees' Retirement System]
ARTICLE 73B OF THE CODE, PARTICIPATE IN THE EMPLOYEES' RETIREMENT
SYSTEM AND THE PENSION SYSTEM FOR EMPLOYEES OF THE STATE OF
MARYLAND on terms and conditions mutually acceptable to the
Administration and the [System] BOARD OF TRUSTEES FOR THE SEVERAL
STATE RETIREMENT AND PENSION SYSTEMS; and
(ii) Establish and maintain an independent
system of pensions and retirement benefits for its employees.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1983.
Approved May 10, 1983.
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CHAPTER 143
(Senate Bill 591)
AN ACT concerning
Financial Institutions and Commercial Law -
Bank Holding Companies --- and Extension
of Credit by Certain Banks Credit Grantors
FOR the purpose of providing for the acquisition of stock of new
Maryland banks by out of state bank holding companies and
imposing requirements on such newly created banks which are
controlled by out of state bank holding companies; providing
for the regulation of bank credit grantor revolving credit
and closed end credit; providing for the continuation of
permissible interest rates for certain consumer loans made
after a certain date; and generally relating to the
establishment of banks in Maryland by out of state bank
holding companies and the extension of credit by State and
federally chartered banks credit grantors in Maryland.
BY adding to
Article - Financial Institutions
Section 5-901 through 5-908, inclusive, to be under the new
subtitle "Subtitle 9. Acquisition of Stock in Banks
Located in Maryland by Out of State Holding
Companies"
Annotated Code of Maryland
(1980 Volume and 1982 Supplement)
BY repealing and reenacting, with amendments,
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