WILLIAM DONALD SCHAEFER, Governor

(4)  APPLY TO A HOME IMPROVEMENT CONTRACT BY A
CONTRACTOR LICENSED UNDER ARTICLE 56 OF THE CODE; AND

(5)  APPLY TO ANY CONTRACT ENTERED INTO UNDER THE
STATE FINANCE AND PROCUREMENT ARTICLE.

SECTION 2.      AND BE IT FURTHER ENACTED, That this     Act does

not apply to any  contract entered into prior to July 1,   1988.

SECTION 3. 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 477.

This bill permits an attorney to disburse funds received in a
real estate transaction at the time of settlement.

House Bill 1350, which was passed by the General Assembly and
signed by me on May 27, 1988, accomplishes the same purpose.
Therefore, it is not necessary for me to sign Senate Bill 477.

Sincerely,

William Donald Schaefer

Governor

Senate Bill No. 477

AN ACT concerning

Real Estate Settlements - Disbursement of Funds

FOR the purpose of permitting an attorney to immediately disburse
, at settlement, funds received in a real estate settlement
transaction immediately after depositing the funds in an

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