Ch. 564                                 . 1995 LAWS OF MARYLAND

(6) No portion of the proceeds of the loan or any of the matching funds may be
used for the furtherance of sectarian religious instruction, or in connection with the
design, acquisition, or construction of any building used or to be used as a place of
sectarian religious worship or instruction, or in connection with any program or
department of divinity for any religious denomination. Upon the request of the Board of
Public Works, the grantee shall submit evidence satisfactory to the Board that none of the
proceeds of the loan or any matching funds have been or are being used for a purpose
prohibited by this Act.

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

Approved May 25, 1995.

CHAPTER 564
(House Bill 749)

AN ACT concerning

Real Estate Investment Trusts

FOR the purpose of requiring a real estate investment trust to state its name in its
declaration of trust; requiring a real estate investment trust to state the number of
trustees and the names of the initial trustees instead of the name and address of
each trustee in its declaration of trust; authorizing a real estate investment trust to
provide in its declaration of trust that the board of trustees of the trust may amend
the declaration to increase or decrease the number of shares that the trust may
issue; providing that certain rights, restrictions, and terms or conditions relating to
shares of a real estate investment trust may be made dependent upon certain facts
and to vary among holders of shares under certain circumstances; altering the
manner in which a trustee of a real estate investment trust may be removed; altering
the manner in which the declaration of trust of a real estate investment trust may be
amended; altering the definition of "business trust"; clarifying language; making
stylistic changes; and generally relating to real estate investment trusts.

BY repealing and reenacting, with amendments,
Article - Corporations and Associations
Section 8-202(b), 8-203, 8-501, and 8-501.1(a)(2)
Annotated Code of Maryland
(1993 Replacement Volume and 1994 Supplement)

BY repealing and reenacting, without amendments,
Article - Corporations and Associations
Section 8-501.1(a)(l)
Annotated Code of Maryland
(1993 Replacement Volume and 1994 Supplement)

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