1874

LAWS OF MARYLAND

Ch. 183

FOR the purpose of permitting the State Treasurer to invest,
redeem, sell, exchange, and reinvest moneys in the local
government investment pool in bankers' acceptances
guaranteed by banking institutions; permitting certain
officers of municipal corporations to invest, redeem, sell,
exchange, and reinvest a certain percent of surplus moneys
in bankers' acceptances guaranteed by banking institutions;
and generally relating to the investing of local government
moneys in bankers' acceptances.

BY repealing and reenacting, with amendments,

Article 95 - Treasurer

Section 22G(b)

Annotated Code of Maryland

(1979 Replacement Volume and 1984 Supplement)

BY adding to

Article 95 - Treasurer

Section 22K

Annotated Code of Maryland

(1979 Replacement Volume and 1984 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 95 - Treasurer

22G.

(b) (1) The Treasurer shall invest moneys in the local
government investment pool in accordance with the provisions set
forth in Section 22F of this article.

(2) NOTWITHSTANDING ANY PROVISIONS OF LAW TO THE
CONTRARY OR ANY LIMITATION OR RESTRICTION CONTAINED IN ANY OTHER
LAW, THE TREASURER MAY INVEST, REDEEM, SELL, EXCHANGE, AND
REINVEST MONEYS IN THE LOCAL GOVERNMENT INVESTMENT POOL IN
BANKERS' ACCEPTANCES GUARANTEED BY BANKING INSTITUTIONS.

22K.

NOTWITHSTANDING ANY PROVISION OF LAW TO THE CONTRARY OR ANY
LIMITATION OR RESTRICTION CONTAINED IN ANY OTHER LAW, THE CHIEF
FISCAL OR ADMINISTRATIVE OFFICER OR GOVERNING BODY OF EACH
MUNICIPAL CORPORATION IN THE STATE MAY INVEST, REDEEM, SELL,
EXCHANGE, AND REINVEST UP TO 50 PERCENT OF UNEXPENDED OR SURPLUS
MONEYS IN ANY FUND OR ACCOUNT OF WHICH THEY HAVE CUSTODY OR
CONTROL IN BANKERS' ACCEPTANCES GUARANTEED BY BANKING
INSTITUTIONS.