|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ROBERT L. EHRLICH, JR., Governor
|
|
|
|
|
|
H.B. 1319
|
|
|
|
|
|
|
|
|
|
|
|
|
accomplishes the same purpose. Therefore, it is not necessary for me to sign House
Bill 1319.
Very truly yours,
Robert L. Ehrlich, Jr.
Governor
House Bill No. 1319
AN ACT concerning
Local Governments - Deposits of Unexpended or Surplus Money
FOR the purpose of authorizing certain local governments to deposit unexpended or
surplus money into certain depository institutions under certain circumstances;
providing that certain deposits are not required to be collateralized under
certain circumstances; defining certain terms; and generally relating to local
governments and deposits of unexpended or surplus money.
BY repealing and reenacting, with amendments,
Article 95 - Treasurer
Section 22
Annotated Code of Maryland
(2003 Replacement Volume and 2004 Supplement)
BY adding to
Article 95 - Treasurer
Section 22-0
Annotated Code of Maryland
(2003 Replacement Volume and 2004 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article 95 - Treasurer
22.
(a) Except as provided in subsection (b) of this section OR § 22-0 OF THIS
ARTICLE, and subject to § 22F of this article, and notwithstanding any provision of a
local law or ordinance, the governing body of each county and municipal corporation,
each county board of education, and the governing body of each road, drainage,
improvement, construction or soil conservation district or commission in the State,
the Upper Potomac River Commission, and any other political subdivision or body
politic of the State, or their authorized acknowledged agent, are directed, authorized,
and empowered to invest, redeem, sell, exchange and reinvest all unexpended or
surplus money in any fund or account of which they have custody or control in
obligations or repurchase agreements in accordance with § 6-222 of the State Finance
and Procurement Article, or deposit unexpended or surplus money in any federally
insured bank in the State of Maryland or in any federally insured savings and loan
- 4411 -
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
