WILLIAM DONALD SCHAEFER, Governor

Ch. 11

The clarification was suggested by the Computer
Division of the Department of Legislative Reference.

Article 73B - Pensions

58.

(d) (1) The fund shall be the fund in which all reserves
for the payment of all allowances!,] and other benefits payable
from contributions made by the State shall be accumulated, and
from which shall be paid all benefits payable under the
noncontributory plan for judges.

DRAFTER'S NOTE: This deletes extraneous punctuation in
Article 73B, § 58(d)(1).

The extraneous punctuation, a comma, was contained in
Ch. 23 of the Acts of 1979.

The extraneous punctuation was noted by the Computer
Division of the Department of Legislative Reference.

76.

A fiduciary in exercising his authority, control, or
discretion with respect to a plan, in addition to compliance with
§ 13(4) or § 88(4) of this article and [§ 55(4) of Article 88B,
shall not] ARTICLE 88B § 55(D), MAY NOT:

(1)  Deal with the assets of the plan in his own
interest or for his own account;

(2)  In his individual or in any other capacity act in
any transaction involving the plan on behalf of a party (or
represent a party) whose interests are adverse to the interests
of the plan or the interests of its participants or
beneficiaries; or

(3)  Receive any consideration for his own personal
account from any party dealing with a plan in connection with a
transaction involving the assets of the plan.

DRAFTER'S NOTE: This corrects an outdated cross-reference
and antiquated language in Article 73B, § 76.

Subsection (4) of Article 88B, § 55 became
subsection (d) of that section when the Michie Company
renumbered the subsections of Article 88B, § 55
according to style in printing the 1985 Replacement
Volume for Volume 8 of the Annotated Code.

The antiquated language was contained in Ch. 871 of
the Acts of 1977.

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