WILLIAM DONALD SCHAEFER, Governor                      Ch. 29

CHAPTER 29

(Senate Bill 172)

AN ACT concerning

Savings and Loan Associations - Compelled Testimony

FOR the purpose of extending the termination date of an act
relating to compelled testimony in cases involving certain
officers, directors, or employees of savings and loan
associations.

BY repealing and reenacting, without amendments,

Article - Financial Institutions
Section 9-910

Annotated Code of Maryland
(1986 Replacement Volume)

BY repealing and reenacting, without amendments,

Chapter 10 of the Acts of the First Special Session of the

General Assembly of 1985
Section 2

BY repealing and reenacting, with amendments,

Chapter 10 of the Acts of the First Special Session of the

General Assembly of 1985
Section 3

Preamble

WHEREAS, The State of Maryland has a significant interest in
compelling testimony of witnesses knowledgeable about criminal
offenses involving officers, directors, or employees of savings
and loan associations; and

WHEREAS, The grant of immunity is constitutionally required
in order to compel a witness to testify if such witness lawfully
refuses to answer or provide information on the basis of
self-incrimination; and

WHEREAS, The State's exercise of its power to compel
testimony under a grant of immunity has been a substantial factor
in the successful criminal prosecution of former savings and loan
officers, directors, and employees; and

WHEREAS, Subject to the provisions of Chapter 10 of the Acts
of the First Special Session of the General Assembly of 1985,

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