Ch. 750

LAWS OF MARYLAND

BY repealing and reenacting, with amendments,

Chapter 10 of the Acts of the First Special Session of the
General Assembly of 1985, as amended by Chapter 29 of
the Acts of the General Assembly of 1987

Section 3

Preamble

WHEREAS, The State of Maryland has a significant interest in
compelling testimony of witnesses knowledgeable about criminal
offenses involving officers, directors, or employees of savings
and loan associations; and

WHEREAS, The grant of immunity is constitutionally required
in order to compel a witness to. testify if such witness lawfully
refuses to answer or provide information on the basis of
self-incrimination; and

WHEREAS, The State's exercise of its power to compel
testimony under a grant of immunity has been a substantial factor
in the successful criminal prosecution of former savings and loan
officers, directors, and employees; and

WHEREAS, Subject to the provisions of Chapter 10 of the Acts
of the First Special Session of the General Assembly of 1985, as
amended by Chapter 29 of the Acts of the General Assembly of
1987, authority to grant immunity in such cases is scheduled to
terminate on June 1, 1989; now, therefore,

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Financial Institutions

9-910.

(a)  If a person lawfully refuses to answer or to provide
other information on the basis of the privilege against
self-incrimination, the person may be compelled to testify in a
proceeding to investigate or prosecute a violation of Article 27,
§ 132 or §§ 340 through 343 of the Code, if such offenses involve
officers, directors, or employees of a savings and loan
association.

(b)  A person compelled to testify or produce documents on
behalf of the State under subsection (a) of this section shall be
exempt from prosecution, trial, and punishment for any and all
crimes and offenses about which the person was compelled to
testify.

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