4106

LAWS OF MARYLAND

Ch. 1

taken by the Governor in the Proclamation dated May 14, 1985,
4:47 p.m. Any savings and loan association financial institution
that has imposed a fee for the dishonoring of a negotiable
instrument as a result of the exercise of the Governor's
authority under the Proclamation dated May 14, 1985, 4:47 p.m.
shall waive the fee. Any default on an obligation by a person as
a result of the exercise of the Governor's authority under the
Proclamation dated May 14, 1985, 4:47 p.m., may not be recorded
in the person's credit records.

SECTION 3. AND BE IT FURTHER ENACTED, That if any provision
of this Act or the application thereof to any person or
circumstance is held invalid for any reason, the invalidity shall
not affect the other provisions or any other application of this
Act which can be given effect without the invalid provisions or
application, and to this end all the provisions of this Act are
declared to be severable.

SECTION 4. AND BE IT FURTHER ENACTED, That by May 21, 1985
the Governor shall submit to the General Assembly a plan to
administratively implement the procedures for adjustments and
exceptions set forth in § 15B-3(b)(4) as enacted by this Act.

SECTION 5. AND BE IT FURTHER ENACTED, That this Act is
hereby declared to be an emergency measure and necessary for the
immediate preservation of the public health and safety and having
been passed by a yea and nay vote supported by three-fifths of
all the members elected to each of the two Houses of the General
Assembly, the same shall take effect from the date of its
passage.

Approved May 18, 1985.

CHAPTER 2

(House Bill 2)

AN ACT concerning

Savings and Loan Associations - Conservator - Receivership

FOR the purpose of altering the conditions under which the court
may appoint a conservator of a savings and loan association;
altering and expanding the powers of a conservator of a
savings and loan association; altering the conditions under
which a court may appoint a receiver for a savings and loan
association; making this Act an emergency measure; and
generally relating to conservators and receivers of savings
and loan associations.