VETOES

I have today signed into law House Bill 1604. It is my
understanding that Senate Bill 164 was introduced as a
contingency in the event that House Bill 1604 did not pass, but
since House Bill 1604 did pass and has been signed, it is not
necessary to sign Senate Bill 164.

For this reason, I have today vetoed Senate Bill 164.

Sincerely,

William Donald Schaefer

Governor

Senate Bill No. 164

AN ACT concerning

Secondary Mortgage Loans - Licensing Provisions - Fees

for Examination

FOR the purpose of altering the fee for examination or
investigation of persons licensed under the Maryland
Secondary Mortgage Loan Law; and making this Act subject to
a certain contingency.

BY repealing and reenacting, with amendments,

Article - Financial Institutions

Section 12-314

Annotated Code of Maryland

(1986 Replacement Volume and 1988 Supplement)

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

Article - Financial Institutions

12-314.

(a)  This section does not apply to a savings and loan
association.

(b)  The Commissioner shall examine the business of each
licensee:

(1)  At least once every 2 years; and

(2)  At any other time that the Commissioner considers
necessary.

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