HARRY HUGHES, Governor

2857

OR SERIES OF STOCK MAY BE MADE DEPENDENT UPON FACTS ASCERTAINABLE
OUTSIDE THE CHARTER AND MAY VARY AMONG HOLDERS THEREOF, PROVIDED
THAT THE MANNER IN WHICH SUCH FACTS OR VARIATIONS SHALL OPERATE
UPON THE PREFERENCES, CONVERSION OR OTHER RIGHTS, VOTING POWERS,
RESTRICTIONS, LIMITATIONS AS TO DIVIDENDS, QUALIFICATIONS, OR
TERMS OR CONDITIONS OF REDEMPTION OF SUCH CLASS OR SERIES OF
STOCK IS CLEARLY AND EXPRESSLY SET FORTH IN THE CHARTER.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1986.

Approved May 27, 1986.

CHAPTER 753

(House Bill 891)

AN ACT concerning

Natural Clam Bars - Leasing Submerged Lands

FOR the purpose of requiring the Department of Natural Resources
to determine whether certain submerged land is a productive
natural clam bar; prohibiting the Department from leasing
certain submerged land for the purpose of oyster
cultivation; authorizing the Department to adopt certain
regulations concerning natural clam bars; providing for
public hearings before a regulation under this Act is
effective; and generally relating to the leasing of
submerged lands as natural clam bars.

BY adding to

Article - Natural   Resources

Section 4-1108(e)

Annotated Code of   Maryland

(1983 Replacement  Volume and 1985 Supplement)

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

Article - Natural Resources

4-1108.

(E) (1) IF A PERSON APPLIES TO THE DEPARTMENT FOR A LEASE
OF SUBMERGED LAND FOR OYSTER CULTIVATION, THE DEPARTMENT SHALL
DETERMINE IF THE SUBMERGED LAND IS A PRODUCTIVE NATURAL CLAM BAR.