Ch. 6

1994 LAWS OF MARYLAND

(I)       THE GROUP THAT CONSISTS OF THE CORRECTIONAL
OFFICERS' RETIREMENT SYSTEM, THE EMPLOYEES' PENSION SYSTEM, THE
EMPLOYEES' RETIREMENT SYSTEM, AND THE LEGISLATIVE PENSION PLAN;

(II)     THE JUDGES' RETIREMENT SYSTEM;

(III)    THE LOCAL FIRE AND POLICE SYSTEM;

(IV)    THE NATURAL RESOURCES PENSION SYSTEM;

(V)     THE STATE POLICE RETIREMENT SYSTEM; AND

(VI)    THE GROUP THAT CONSISTS OF THE TEACHERS' PENSION
SYSTEM AND THE TEACHERS' RETIREMENT. SYSTEM.

(F) DISCLOSURE OF INFORMATION.

(1)      NOTWITHSTANDING ANY OTHER LAW IN FORCE ON OR AFTER JULY
1, 1988, UNLESS THE LAW MAKES SPECIFIC REFERENCE TO THIS SUBSECTION, AND
SUBJECT TO PARAGRAPH (2) OF THIS SUBSECTION, THE BOARD OF TRUSTEES MAY
KEEP ALL ANALYSES, FORECASTS, NEGOTIATIONS, PAPERS, RECORDS,
RECOMMENDATIONS, AND REPORTS CLOSED TO PUBLIC INSPECTION UNTIL:

(I)       THE RELEASE OF THE INFORMATION WOULD NOT ADVERSELY
EFFECT THE NEGOTIATION FOR OR MARKET PRICE OF A SECURITY; AND

(II)     COMPLETION OF:

1.        A PROPOSED PURCHASE OR PROGRAM OF PURCHASES
LEADING TO A CUMULATIVE POSITION IN A SECURITY;

2.        THE MAKING, SALE, OR PREPAYMENT OF A LOAN;

3.        ANY PROPOSED SALE OR PROGRAM OF SALES LEADING
TO THE ELIMINATION OF A POSITION IN A SECURITY; OR

4.        THE SALE OR PURCHASE OF REAL ESTATE.

(2)      THE SALE OR PURCHASE OF REAL ESTATE SHALL BE SUBJECT TO
THE APPROVAL OF THE BOARD OF PUBLIC WORKS AND SHALL BE INCLUDED ON A
BOARD OF PUBLIC WORKS AGENDA.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 1-104(j).

In subsections (a) and (b)(1) of this section, the reference to "assets" is
substituted for the former references to "funds", "moneys", and
"investments". See Revisor's Note to § 20-101 of this article.

Also in subsection (a) of this section, the former reference to "control" over
assets is deleted as redundant of the requirement to "manage" those assets.

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