WILLIAM DONALD SCHAEFER, Governor                   Ch. 311

greater control of their economic futures, improve productivity
and labor-management relations, contribute to the national effort
to combat inflation, strengthen the free enterprise system, and
put the State in the forefront of contemporary economic trends.
It is the policy of this State to encourage the broadening of the
base of capital ownership among wider numbers of Maryland
citizens, and to encourage the use of employee stock ownership
plans as one means of broadening the ownership of capital.

(b)  The Division of [Economic] BUSINESS Development of the
Department [of Economic and Community Development], the Maryland
Industrial Development Financing Authority, the Development
Credit Corporation of Maryland, the Maryland State Office of
Minority Business Enterprise, the Division of Labor and Industry
of the Department of Licensing and Regulation, and the Public
Service Commission shall include a discussion of their efforts to
promote these policies in their respective annual reports as
required by law.

(c)  This section may be cited as the Broadened Ownership
Act.

[11-107.

In addition to such advisory boards as are or may be
established by law, the Secretary of Economic and Community
Development may, with the approval of the Governor, create such
advisory boards of such size as he deems appropriate or utilize
as an advisory board any existing commission established by
executive order.]

TITLE 2. DIVISION OF BUSINESS DEVELOPMENT

Subtitle [2.] 1. Division of [Economic and Community]
BUSINESS Development

[11-201.] 2-101.

(A) The Division of [Economic] BUSINESS Development is
established [and continued] as [the same Department of Economic
Development hitherto existing. The Division of Economic
Development shall be] part of the Department [of Economic and
Community Development]. [The Division shall have the powers,
duties, responsibilities and functions provided in the laws of
this State for the Department of Economic Development. All
references in this Code, in any other laws of this State, or in
ordinances, resolutions, rules, regulations, legal actions,
directives, or documents to the Department of Economic
Development, shall be deemed to mean the Division of Economic
Development. From and after September 1, 1970, all rights,
powers, duties, obligations and functions heretofore conferred
upon or exercised by the Department of Economic Development shall
be transferred to and be exercised by the Division of Economic

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