904

LAWS OF MARYLAND

Ch. 11

revision reflects that, practicably, deposit insurance
must be treated differently since, e.g., a custodian
would not hold that insurance.

In item (6) of this section, the term "municipal
corporation" is substituted for the former term
"city", to conform to the usual terminology.

Items (8) and (9) of this section are revised
separately, to clarify that the obligations are not
issued jointly by the Inter-America Development and
World Banks.

In item (10) of this section, the former reference to
student loans "guaranteed by ... the State of
Maryland" is deleted since the State does not
guarantee these loans. Rather, student loan programs
in the State are operated by the Maryland Higher
Education Loan Corporation, which is covered under
item (10) of this section, and by the Higher Education
Supplemental Loan Authority. While both of these
entities are public corporations, their obligations
are expressly not obligations of the State.

Also in item (10) of this section, the introductory
language in former Art. 95, § 23(b), "[i]n addition to
the security in the form of collateral provided for in
§ 21 of this article and in Article 90, § 9", is
deleted as unnecessary in light of this revision and,
as to former Art. 90, § 9, obsolete. See the General
Revisor's Note to this subtitle.

Also in item (10) of this section, the broad
reference, in former Art. 95, § 23(b), to
"obligations" is deleted as unnecessary in light of
the reference to "student loans".

Defined term: "County" § 1-101

6-203. RESERVED.

6-204. RESERVED.

PART II. DEPOSITARIES.

6-205. AUTHORIZED.

SUBJECT TO THE LIMITATIONS IN THIS SUBTITLE AND IN ANY OTHER
LAW, THE TREASURER MAY DESIGNATE ANY FINANCIAL INSTITUTION AS A
DEPOSITARY FOR STATE MONEY.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first sentence of
former Art. 95, § 21(a), except as that sentence
related to gubernatorial approval.