WILLIAM DONALD SCHAEFER, Governor                   Ch. 481

of real property, in-kind contributions, or funds expended prior
to the effective date of this Act. In case of any dispute as to
what money or assets may qualify as matching funds, the Board of
Public Works shall determine the matter, and the Board's decision
is final. The County Executive and the County Council of
Baltimore County have until June 1, 1989 to present evidence
satisfactory to the Board of Public Works that the matching fund
will be provided. If satisfactory evidence is presented, the
Board shall certify this fact to the State Treasurer and the
proceeds in this Act. If this evidence is not presented by June
1, 1989, the proceeds of the loan shall be applied to the
purposes authorized in § 8-129 of the State Finance and
Procurement Article.

(6) The County Executive and County Council of Baltimore
County shall grant and convey a perpetual preservation easement
on the exterior and interior of the structures, where
appropriate, and on the land to the Maryland Historical Trust in
form and substance acceptable to the Trust.

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

Approved May 14, 1987.

CHAPTER 481

(House Bill 575)

AN ACT concerning

Financial Institutions - Clearance of Items

FOR the purpose of declaring it to be the public policy of the
State to ensure that customers or members of certain
financial institutions are able to draw against items
deposited for collection in their accounts within a
reasonable period of time; defining certain terms; requiring
the Bank Commissioner to gather relevant information and to
adopt certain regulations regarding the time period within
which banking institutions and credit unions shall be
required to permit a customer or member to draw, as of
right, on an item received for deposit in the customer's or
member's account; requiring the Director of the Division of
Savings and Loan Associations to gather relevant information
and to adopt certain regulations regarding the period within
which savings and loan associations shall be required to
permit a customer to draw, as of right, on an item received
for deposit to the customer's account; requiring that the

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