Ch. 741

LAWS OF MARYLAND

may include a period of compliance immediately before July 1,
1988.

SECTION 4. AND BE IT FURTHER ENACTED, That for purposes of
determining under § 13-825(h)(2) and (3) of the Tax - General
Article whether a taxpayer has been licensed and has continuously
complied with the tobacco tax laws, a cigarette distributor's
license under Article 81, §§ 445 through 448 and Article 56, §§
63 through 74 of the Code shall be deemed to be a license under
Article 56, § 613 of the Code to engage in the business of a
cigarette wholesaler, and a violation of the provisions of
Article 81, §§ 431 through 464 of the Code shall be deemed to be
a violation of Title 12 or Title 13 of the Tax - General Article.

SECTION 5. AND BE IT FURTHER ENACTED, That Sections 1 and 3
of this Act shall take effect July 1, 1988. Section 1 of this
Act shall remain effective until January 1, 1989, and on January
1, 1989, and with no further action required by the General
Assembly, Section 1 of this Act shall be abrogated and of no
further force and effect so that the provisions affected by
Section 1 of this Act are repealed in accordance with Chapter
(S.B. 2) of the Acts of the General Assembly of 1988.

SECTION 6. AND BE IT FURTHER ENACTED, That Sections 2 and 4
of this Act shall take effect January 1, 1989.

Approved May 27, 1988.

CHAPTER 741

(House Bill 1359)

AN ACT concerning

State Boat Act - Security Interests in Vessels

FOR the purpose of altering the procedures for release of a
security interest in vessels; eliminating certain documents
that are attached to a certificate of title for the vessel;
altering the time limit for perfecting a security interest
in vessels; altering the time period during which a security
interest is deemed perfected as of the time of its creation
if delivery and payment to the Department of Natural
Resources are completed; providing for the endorsement and
delivery of certain certificates of title for a vessel to
the owner of the vessel; and generally relating to the
perfection and release of security interests in vessels.

- 4838 -