WILLIAM DONALD SCHAEFER, Governor                         Ch. 146

BY repealing and reenacting, with amendments,

Article 83A - Department of Economic and Employment Development

Section 1-204(a) and 1-206(b)

Annotated Code of Maryland

(1991 Replacement Volume and 1993 Supplement)

BY renumbering

Article - Tax - General

Section 10-207(g) through (s), respectively,

to be Section 10-207(f) through (r), respectively

Annotated Code of Maryland

(1988 Volume and 1993 Supplement)

Preamble

WHEREAS, Chapter 826 of the Laws of Maryland of 1982 transferred §§ 412
through 426A, inclusive, and 428 and 429, and the amended subtitle "Development Credit
Corporation of Maryland" of Article 23 - Miscellaneous Companies, of the Annotated
Code of Maryland to the Session Laws; and

WHEREAS, By that Chapter certain other sections of the Annotated Code
dealing with the Development Credit Corporation of Maryland were added, amended, or
transferred; and

WHEREAS, The Development Credit Corporation of Maryland is no longer a
functioning entity; now, therefore,

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 3 of Chapter 826 of the Acts of the General Assembly of
1982 be repealed in its entirety.

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of Maryland
read as follows:

Article - Financial Institutions

[5-510.

A banking institution may:

(1)     Become and participate as a member of the Development Credit
Corporation of Maryland; or

(2)     Withdraw from the Corporation.]

- 1463 -