WILLIAM DONALD SCHAEFER, Governor                        Ch. 5

Occurred: As a result of Ch. 506, Acts of 1982, which
repealed Article 73B, § 46.

76.

A fiduciary in exercising his authority, control, or
discretion with respect to a plan, in addition to compliance with
§ 13(4) or § 88(4) of this article and [Article 88B § 55(d)]
ARTICLE 88B, § 55(D) OF THE CODE, may not:

(1)  Deal with the assets of the plan in his own
interest or for his own account;

(2)  In his individual or in any other capacity act in
any transaction involving the plan on behalf of a party (or
represent a party) whose interests are adverse to the interests
of the plan or the interests of its participants or
beneficiaries; or

(3)  Receive any consideration for his own personal
account from any party dealing with a plan in connection with a
transaction involving the assets of the plan.

DRAFTER'S NOTE:

Error: Omitted comma Stylistic error in Article 73B,
§ 76.

Occurred: Ch. 11, Acts of 1987.

95.

The creation and maintenance of reserves in the Accumulation
Fund, the maintenance of annuity reserves and pension reserves as
provided for, and regular interest creditable to the various
funds as provided in [§ 84] § 89 of this subtitle, and the
payment of all pensions, annuities, retirement allowances,
refunds and other benefits granted under the provisions of this
subtitle, and all expenses in connection with the administration
and operation of this retirement system are hereby made
obligations of the State of Maryland. All income, interest and
dividends derived from deposits and investments authorized by
this subtitle shall be used for the payment of the said
obligations of said State. Any amounts derived therefrom which,
when combined with the regular amounts, otherwise contributable
by the State of Maryland as provided under the provisions of this
subtitle, exceed the amount required to provide such obligations,
shall be used to reduce regular appropriations otherwise
required, except as otherwise provided in [§ 89(2)(j)] §
89(2)(F) of this subtitle.

DRAFTER'S NOTE:

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