Ch. 698

LAWS OF MARYLAND

for services related to the external management of the investment
of assets of the retirement systems;

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of
Maryland read as follows:

Article - State Finance and Procurement

11-203.

(a) Except as provided in subsection (b) of this section,
this Division II does not apply to:

(1) procurement by:

(vi) the Board of Trustees for Maryland State
Retirement and Pension Systems [or the State Investment Agency],
for services related to the external management of the investment
of assets of the retirement systems;

SECTION 2 3. AND BE IT FURTHER ENACTED, That for the
period July 1, 1988 through December 31, 1990:

(a)  subject to the approval of the Board of Trustees, an ex
officio trustee may designate an alternate to serve on the
Investment Committee of the Board in place of the ex officio
trustee making the designation; and

(b)  the Board of Trustees may adopt rules governing the
designation of alternates on the Investment Committee and may
establish the terms and conditions under which an alternate
serves.

SECTION 3 4 . AND BE IT FURTHER ENACTED, That the person
serving as the Executive Director for Administration on July 1,
1988 shall be the Executive Director; and the person serving as
the Executive Director for Investments on July 1, 1988 shall be
the Chief Investment Officer.

SECTION 4 5. AND BE IT FURTHER ENACTED, That all right,
title, interest, and estate to any interest in real property
titled or owned in the name of State of Maryland for the use of
the Maryland State Investment Agency is transferred to the State
of Maryland for the use of the Board of Trustees of the Maryland
State Retirement and Pension Systems.

SECTION 5 6 . AND BE IT FURTHER ENACTED, That Sections 1,
3, 4, and 5 of this Act shall take effect July 1, 1988.

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