Ch. 512                                          LAWS OF MARYLAND

SECTION 3. AND BE IT FURTHER ENACTED, That, subject to the
provisions of Section 2 herein and for the sole purpose of
providing for the referendum therein required, this Act shall
take effect on July 1, 1988.

Approved May 17, 1988.

CHAPTER 512

(House Bill 1405)

AN ACT concerning

Investment of State Moneys

FOR the purpose of authorizing the State Treasurer to     invest,

redeem, sell, exchange, and reinvest unexpended or   surplus

funds in bankers' acceptances guaranteed by certain     banking
institutions.

BY repealing and reenacting, with amendments,

Article - State Finance and Procurement

Section 6-222

Annotated Code of Maryland

(1985 Volume and 1987 Supplement)

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

Article - State Finance and Procurement

6-222.

(a) The Treasurer may invest or reinvest unexpended or
surplus money over which the Treasurer has custody:

(1)  In any obligation for which the United States has
pledged its faith and credit for the payment of the principal and
interest;

(2)  In any obligation that a federal agency issues in
accordance with an act of Congress;

(3)  In a repurchase agreement that any of these
obligations secures; or

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