WILLIAM DONALD SCHAEFER, Governor                   Ch. 687

TREASURER THAT NEITHER IS IT AN ENTITY NOR DOES IT PLAN TO BECOME
AN ENTITY THAT IS:

(I) A BANK OR A FINANCIAL INSTITUTION WHICH
MAKES LOANS TO THE REPUBLIC OF SOUTH AFRICA;

(II) A NATIONAL CORPORATION OF THE REPUBLIC OF
SOUTH AFRICA; AND

(III) A BANK OR A FINANCIAL INSTITUTION WHICH
IS A SUBSIDIARY OR AFFILIATE OF A UNITED STATES COMPANY OPERATING
IN THE REPUBLIC OF SOUTH AFRICA.

FOR the purpose of extending the period of time for the Board of
Trustees for Maryland State Retirement and Pension Systems
to require external investment managers not to make new
investments of certain funds in public obligations of
certain companies doing business with South Africa;
extending the time for the Board of Trustees to establish a
data base system and to collect certain information;
altering the date by which a task force reviewing data on
investments in South Africa is to terminate; providing for
the effective date of this Act; and generally relating to an
extension of a prohibition on the investment of new
externally managed funds in companies doing business in
South Africa.

BY repealing and reenacting, with amendments,

Article 73B - Pensions

Section 161(11)(d)(i)

Annotated Code of Maryland

(1983 Replacement Volume and 1986 Supplement)

BY repealing and reenacting, with amendments,

Chapter 775 of the Acts of the General Assembly of 1985
Section 3

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

Article 73B - Pensions

161.

(11) (d) (i) The Board of Trustees shall require the
external investment managers, from July 1, 1985 until June 30,
[1987] 1988, not to make any new investments from net new funds
allocated to the managers in any stock, security, or other
obligation of any company that does business in or with the

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