Ch. 713

LAWS OF MARYLAND

(B) IF A FEDERAL MATCHING GRANT LOAN PROGRAM FURNISHES
PROFESSIONAL SERVICES IN AN ELIGIBLE FIELD OF EMPLOYMENT TO LOW
INCOME OR UNDERSERVED RESIDENTS OF THE STATE, THE ADMINISTRATION
MAY APPLY NOT MORE THAN 50 PERCENT OF THE FUNDS PROVIDED IN THE
STATE BUDGET FOR THE LOAN ASSISTANCE REPAYMENT PROGRAM TO THE
STATE'S PARTICIPATION IN THE FEDERAL PROGRAM.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1989.

Approved May 25, 1989.

CHAPTER 713

(House Bill 983)

AN ACT concerning

Financial Institutions - Commercial Banks - Preemptive Rights

FOR the purpose of specifying that the articles of incorporation
of a State bank or trust company may include a provision to
define, limit, or deny preemptive rights of stockholders to
acquire additional stock of the State bank or trust company;
providing that, unless the charter provides otherwise, a
stockholder of a State bank or trust company does not have
certain preemptive rights; providing that a certain
determination of the fair value of stock by the board of
directors of a State bank or trust company is conclusive;
providing certain exceptions; providing that, unless the
articles of incorporation provide otherwise, a holder of
certain securities of a State bank or trust company does not
have any preemptive rights.

BY repealing and reenacting, with amendments,

Article - Financial Institutions

Section 3-202(c)

Annotated Code of Maryland

(1986 Replacement Volume and 1988 Supplement)

BY adding to

Article - Financial Institutions

Section 3-316

Annotated Code of Maryland

(1986 Replacement Volume and 1988 Supplement)

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