Ch. 382

LAWS OF MARYLAND

(I)  THE PORTFOLIO OF THE OPEN-END OR CLOSED-END
MANAGEMENT TYPE INVESTMENT COMPANY OR INVESTMENT TRUST IS LIMITED
TO DIRECT OBLIGATIONS OF THE UNITED STATES GOVERNMENT OBLIGATIONS
AND TO REPURCHASE AGREEMENTS FULLY COLLATERALIZED BY UNITED
STATES GOVERNMENT OBLIGATIONS; AND

(II)  THE OPEN-END OR CLOSED-END MANAGEMENT TYPE
INVESTMENT COMPANY OR INVESTMENT TRUST TAKES DELIVERY OF THAT
COLLATERAL, EITHER DIRECTLY OR THROUGH AN AUTHORIZED CUSTODIAN.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1987.

Approved May 14, 1987.

CHAPTER 382

(Senate Bill 712)                                                 

AN ACT concerning

Senatorial Scholarships - Graduate Students

FOR the purpose of altering the qualification requirements for
part-time recipients of a senatorial scholarship; making
certain part-time graduate students eligible for a
senatorial scholarship award; and generally relating to
senatorial scholarship awards for part-time graduate
students.

BY repealing and reenacting, with amendments,

Article - Education

Section 18-406

Annotated Code of Maryland

(1985 Replacement Volume and 1986 Supplement)

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

Article - Education

18-406.

(a) Except as otherwise provided in this section, each

recipient of a senatorial scholarship may hold the scholarship

for 4 undergraduate academic years and 4 graduate academic years
if he:

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