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40
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JOURNAL OF PROCEEDINGS
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June 21
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Departments
Section 266LL-1 through 266LL-13, inclusive, to be under the
new subheading "Day Care Facilities Loan Guarantee
Fund"
Annotated Code of Maryland
(1982 Replacement Volume)
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The President put the question: Shall the Bill pass,
notwithstanding the objections of the Executive?
The roll call vote resulted as follows:
Affirmative: 1 Negative: 43
(See Roll Call No. 25)
The President announced the veto was sustained.
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May 31, 1983
The Honorable Melvin 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.
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Sincerely,
Harry Hughes
Governor
Senate Bill No. 496
AN ACT concerning
Life Insurance Policy Loans
FOR the purpose of permitting and setting 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; and generally
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