PARRIS N. GLENDENING, Governor

Ch. 439

Program and the federal direct student loan program, there is no longer a need for the
Maryland Higher Education Loan Corporation, the Corporation shall be dissolved upon
the satisfaction of its outstanding obligations and notes by a date no later than June 30,
1996.

(b) Upon the dissolution of the Corporation, all of the Corporation's property and
money that belong to the State and have not been transferred to another guaranty entity
as a result of the dissolution, shall be transferred to the State Scholarship Administration
of the Maryland Higher Education Commission to be used for any scholarship program it
administers.

(C) UPON THE DISSOLUTION OF THE CORPORATION, THE MARYLAND
COMMISSION FOR HIGHER EDUCATION HIGHER EDUCATION COMMISSION OR THE
ENTITY ESTABLISHED UNDER § 18-1003(E) OF THIS SUBTITLE, SHALL REQUEST,
UNDER ARTICLE 19, §§ 43 THROUGH 46 OF THE CODE, THAT STATE INCOME TAX
REFUNDS BE WITHHELD TO REPAY ANY LOAN THAT HAS BEEN IN DEFAULT FOR AT
LEAST 180 DAYS.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 1995.

Approved May 18, 1995.

CHAPTER 439
(Senate Bill 299)

AN ACT concerning

Limited Liability Partnerships - Liability of Partners

FOR the purpose of altering the circumstances under which the liability of a partner in a
limited liability partnership may be limited; altering the circumstances under which
a partner is liable for the partner's own negligent or wrongful acts or omissions; and
generally relating to the liability of partners in limited liability partnerships.

BY repealing and reenacting, with amendments,
Article - Corporations and Associations
Section 9-307

Annotated Code of Maryland
(1993 Replacement Volume and 1994 Supplement)

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

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