1572

LAWS OF MARYLAND

Ch. 285

hold and invest all funds accruing to the pension fund for the
benefit of the said fund; provided, however, that no investment
or reinvestment of said fund shall be made without the advice and
approval of a board consisting of the State Bank Commissioner and
two persons to be appointed by the Superintendent of State Police
who shall be officers of a bank or trust company located and
doing business in Maryland. The chief actuary of the State
Insurance Commissioner's office shall be the technical adviser of
the Superintendent of State Police, in the administration of this
fund, on all actuarial questions. The Superintendent of State
Police shall be authorized to set aside annually an amount
sufficient to defray the annual cost of the pension together with
at least one thousand dollars ($1,000.00) toward the necessary
reserve, plus interest at the rate of 4% per annum upon that
portion of the pension fund reserve remaining unpaid. This
reserve shall be that amount necessary to cover the accrued
liability existing at the time of the establishment of the
pension fund, by reason of the service rendered by the present
members of the Department, prior to such date of establishment.
This ' pension fund reserve shall be that amount shown to be
necessary for the proper operation of the system, by accepted
actuarial standards. The Superintendent of State Police shall
also retain biennially all unexpended funds in the budget item of
the State Police Department, designated therein compensation
insurance and pension fund, for the purpose of establishing the
above mentioned reserve, until such reserve is complete. Every
person who knowingly and wilfully in anywise procures the making
or presentation of any false or fraudulent affidavit or
affirmation concerning any claim for a share of payment thereof
shall in every case forfeit a sum not exceeding two hundred
dollars ($200.00) to be sued for and recovered by and in the name
of the Superintendent of State Police; and when recovered to be
paid over to, and thereupon becoming a part of the fund here
provided. Any person who shall wilfully swear falsely in any
oath or affirmation in obtaining or procuring any share or
payment thereof under the provisions of this subtitle shall be
guilty of perjury.

63.

(e) Every agreement requires the prior approval of the
[State Law Department] OFFICE OF THE ATTORNEY GENERAL as to legal
sufficiency. Financial arrangements in every agreement require
the prior approval of the Secretary of Budget and Fiscal
Planning.

Article 88C - State Planning

8.

The Department of State Planning may render financial or
other planning assistance to county, municipal or other local
governments, instrumentalities or planning agencies and to
regional or metropolitan planning commissions. Such assistance
may be conditioned on equal, larger or smaller contributions by