S.B. 712

VETOES

(2) THE REAL ESTATE LICENSEE REPRESENTING A PURCHASER OF
RESIDENTIAL REAL PROPERTY, OR, IF THE PURCHASER IS NOT REPRESENTED BY A
LICENSEE, THE REAL ESTATE LICENSEE REPRESENTING AN OWNER OF RESIDENTIAL
REAL ESTATE AND DEALING WITH THE PURCHASER, HAS A DUTY TO INFORM THE
PURCHASER OF THE PURCHASER'S RIGHTS AND OBLIGATIONS UNDER THIS SECTION.

(3) IF A REAL ESTATE LICENSEE PERFORMS THE DUTIES SPECIFIED IN THIS
SUBSECTION, THE LICENSEE:

(I) SHALL HAVE NO FURTHER DUTIES UNDER THIS SECTION TO THE
PARTIES TO A RESIDENTIAL REAL ESTATE TRANSACTION; AND

(II) IS NOT LIABLE TO ANY PARTS' TO A RESIDENTIAL REAL ESTATE
TRANSACTION FOR A VIOLATION OF THIS SECTION.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall apply to
contracts of sale of real property, land installments contracts, option to purchase
agreements, and lease agreements containing an option to purchase provision entered
into on or after January 1. 1994.

SECTION. 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
January 1, 1994.                           

May 27, 1993 .

The Honorable Thomas V. Mike Miller, Jr.

President of the Senate

State House

Annapolis, Maryland 21401

Dear Mr. President:

In accordance with Article II. Section 17 of the Maryland Constitution, I have today
vetoed Senate Bill 712.

This bill would provide that "compliance review documents" of financial institutions are
confidential and not discoverable or admissible in evidence in any civil action arising out
of matters evaluated by a compliance review committee.

House Bill 1166, which was passed by the General Assembly and signed by me on May 11,
1993, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate
Bill 712.

Sincerely,

William Donald Schaefer

Governor

Senate Bill No. 712

AN ACT concerning

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