Ch. 551

LAWS OF MARYLAND

required by § 3-107 OR § 10-208 of the Corporations and
Associations Article, or other document filed with the clerk of
the circuit court of a county or the Department which evidences a
merger or consolidation of foreign corporations OR FOREIGN
LIMITED PARTNERSHIPS.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
apply to all limited partnerships formed before, on, or after
July 1, 1988.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1988.

Approved May 27, 1988.

CHAPTER 551

(Senate Bill 77)

AN ACT concerning

Waterway Improvement Fund - Interest-Free Loans - Dredging

FOR the purpose of requiring the Department of Natural Resources
to administer the Waterway Improvement Fund to provide
interest-free loans to certain governing bodies for the
benefit of certain residential property owners with land
abutting a channel adjacent to a main channel or harbor for
dredging the adjacent channel; authorizing money received
into the Waterway Improvement Fund to be used to provide
interest-free loans to certain governing bodies for the
benefit of certain residential property owners to finance
the dredging of certain channels; requiring owners of
certain property to agree to participate in financing
certain dredging projects; providing certain exceptions;
requiring repayments of certain loans to be made through a
special real estate assessment on certain property by a
governing body through certain appropriations or special
assessments; requiring the Board of Public Works to assess a
special real estate assessment on certain property under
certain circumstances; specifying that a certain special
real estate assessment shall be payable in certain annual
installments and calculated to return a certain amount to

the Waterway Improvement Fund; providing certain lien

priorities to certain repayment installments and the

outstanding balance of a certain special real estate

assessment; permitting the Department of Natural Resources
to grant certain lien priority to a subsequent purchase

- 3686 -