WILLIAM DONALD SCHAEFER, Governor Ch. 401

(4) Require a budget [and accounting] manual, and
instructions; and

2-7-47.

(b) The document shall include a current expense budget, a
capital budget, and capital program. The capital program shall
set forth clearly the plan of proposed capital projects to be
undertaken in the ensuing fiscal year and the next [five (5)] 5
fiscal years and the proposed means of financing [the same] THEM.
The capital budget shall include a statement of the receipts
anticipated during the ensuing fiscal year from all borrowing and
from other sources for capital projects. The BUDGET procedures
shall provide for public hearings on the budget AND THE CAPITAL
IMPROVEMENTS PROGRAM, and shall also provide that the enacted
budget will be reproduced and available to the public upon
request.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect June 1, 1988.

Approved May 17, 1988.

CHAPTER 401

(House Bill 394)

AN ACT concerning

Medical Mutual Liability Insurance Society of
Maryland - Private Entity

FOR the purpose of providing that the Medical Mutual Liability
Insurance Society of Maryland and its subsidiaries are not
instrumentalities of the State; providing that all the
debts, claims, obligations and other liabilities of the
Society and its subsidiaries are of those entities only and
not of the State; providing that the Society and its
subsidiaries' moneys may not be considered part of the
General Fund of the State; providing that the State may not
budget for or provide General Fund appropriations to the
Society and its subsidiaries; and generally relating to the
Society and its subsidiaries.

BY repealing and reenacting, with amendments,

Article 48A - Insurance Code

Section 550

Annotated Code of Maryland

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