PARRIS N. GLENDENING, Governor                            S.B. 117

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

May 24, 1995

The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis MD 21401

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed Senate Bill 117.

This bill requires the board of directors of each credit union proposing to merge into
another credit union to adopt a resolution declaring that the merger is advisable and set
a date for a vote on the proposed merger by the members of each credit union party to
the merger.

House Bill 93, which was passed by the General Assembly and signed by me on May 18,
1995, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate
Bill 117.

Sincerely,

Parris N. Glendening

Governor

Senate Bill No. 117

AN ACT concerning

Credit Unions - Mergers

FOR the purpose of requiring the board of directors of each credit union proposing a
merger to take certain actions; altering the manner in which a merger is approved
by the members of each credit union party to a merger; authorizing the Bank
Commissioner to waive a certain requirement under certain circumstances; altering
the content of a certificate of merger; and generally relating to mergers of credit
unions.

BY repealing and reenacting, with amendments,
Article - Financial Institutions
Section 6-702

Annotated Code of Maryland
(1992 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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