(ii) The executive committee of the banking institution, if that
committee is authorized to make loans;

(2) If a loan is approved by an executive committee, the loan approval shall
be reported to the board of directors at its next meeting.

[(d)](E) (1) A loan made under this section shall be reviewed every 6 months
by the board of directors.

(2) The loan may not be renewed of extended unless the renewal or
extension has been approved by a resolution adopted at a meeting of the board of
directors and recorded in the minutes of the meeting.

[(e)](F) All loans to a director officer, or employee of a banking institution are
subject to the limitations imposed by § 3-601 of this article.

SECTION 2. AND BE IT FURTHER ENACTED; that this Act shall take effect
October 1, 1993.

Approved May 11, 1993.

CHAPTER 278
(House Bill 45)

AN ACT concerning                           

Vehicle Laws - Left Turn on Red Signal

FOR the purpose of authorizing vehicular traffic facing a steady red signal to turn left
from a one-way street onto a one-way street under certain circumstances; and
providing for the effective date of this Act:

BY repealing and reenacting, without amendments,                                         

Article - Transportation
Section 21-202(h)

Annotated Code of Maryland
(1992 Replacement Volume)

BY repealing and reenacting, with amendments,
Article - Transportation
Section 21-202(i)
Annotated Code of Maryland
(1992 Replacement Volume)

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

- 1744 -

Ch; 278

1993 LAWS OF MARYLAND