WILLIAM DONALD SCHAEFER, Governor Ch. 514

CHAPTER 514

(House Bill 1407)

AN ACT concerning

Disbursement of State Moneys

FOR the purpose of authorizing the State Treasurer to disburse
moneys of the State by means other than check, consistent
with recognized banking practices governing transfers of
funds and regulations to be adopted by the State Treasurer
with the concurrence of the Comptroller.

BY adding to

Article - State Finance and Procurement

Section 7-227.1

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

7-227.1.

THE TREASURER, UPON WARRANT OF THE COMPTROLLER, MAY DISBURSE
MONEYS OF THE STATE BY THOSE MEANS OTHER THAN CHECK FOR
TRANSFERRING FUNDS GENERALLY RECOGNIZED BY THE BANKING INDUSTRY,
INCLUDING WIRE TRANSFER AND AUTOMATED CLEARINGHOUSE TRANSFERS IF
AUTHORIZED BY REGULATIONS OF THE STATE TREASURER ADOPTED IN
ACCORDANCE WITH TITLE 10, SUBTITLE 1 OF THE STATE GOVERNMENT
ARTICLE.

IN ADDITION TO DISBURSEMENT OF MONEYS BY CHECK AUTHORIZED
UNDER § 7-227 OF THIS SUBTITLE, THE TREASURER, UPON WARRANT OF
THE COMPTROLLER, MAY DISBURSE MONEYS BY THOSE MEANS GENERALLY
RECOGNIZED AND ACCEPTED BY THE BANKING INDUSTRY FOR TRANSFERRING
FUNDS. SUCH DISBURSEMENTS SHALL BE MADE IN ACCORDANCE WITH
REGULATIONS PROMULGATED BY THE TREASURER, AFTER CONCURRENCE BY
THE COMPTROLLER, IN ACCORDANCE WITH TITLE 10, SUBTITLE 1 OF THE
STATE GOVERNMENT ARTICLE.

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

Approved May 17, 1988.

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