VETOES

(6)  Information that relates to the inability of the
principal to obtain adequate bonding on reasonable terms through
normal channels;

(7)  Information that relates to the financial status
of the principal, including:

(i) A current balance sheet;

(ii) A profit and loss statement; and

(iii) Credit references;

(8)  A schedule of all existing and pending contracts
and the current status of each; and

(9)  Any other relevant information that the Authority
requests.

(c) After receipt of an application for assistance from the
Maryland Small Business Surety Bond Guaranty Program, the
Authority may determine that a principal shall provide an audited
balance sheet before the Authority makes its decision on the
application.

(D) IF A PRINCIPAL HAS EVER DEFAULTED ON ANY LOAN OR
GUARANTY PROVIDED BY THE AUTHORITY, THE AUTHORITY MAY NOT APPROVE
A GUARANTY UNDER THIS PART VI.

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

May 27, 1988

The Honorable Thomas V. Mike Miller, Jr.

President of the Senate

State House

Annapolis, Maryland 21401

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland
Constitution, I have today vetoed Senate Bill 227.

This bill is very similar to Senate Bill 860 of 1987, which I
vetoed on June 2, 1987.

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