Ch. 605                                    LAWS OF MARYLAND

(II) Some other benefit or benefits shall be
paid either to the member or to such person or persons nominated,
if those other benefit or benefits, together with the reduced
retirement allowance, are certified by the actuary to be of
equivalent actuarial value to the retirement allowance, and are
approved by the board of trustees.

(5) A retired member may elect to change his or her
beneficiary, in which event, the allowance for a subsequent
election shall be computed on the value of the balance in his or
her reserves at the time the change in beneficiary is made.

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

Approved June 2, 1987.

CHAPTER 605

(Senate Bill 150)

AN ACT concerning

Home Improvement Law Licensing - Examination Fee

FOR the purpose of providing for the determination of a certain
fee to be paid by an applicant for a contractor's licenser
providing a certain exception to the licensing requirements
to contractors; authorizing certain sanctions for violations
of the home improvement law; providing certain minimum
criteria for obtaining a contractor's license; and generally
relating to licensing under the Home Improvement Law.

BY repealing and reenacting, with amendments,

Article 56 - Licenses

Section 254(a) and 256(2)

Annotated Code of Maryland

(1983 Replacement Volume and 1986 Supplement)

BY adding to

Article 56 - Licenses

Section 257(1)
Annotated Code of Maryland
(1983 Replacement Volume and 1986 Supplement)

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