Ch. 326                                    1996 LAWS OF MARYLAND

fund here provided. Any person who shall wilfully swear falsely in any oath or affirmation
in obtaining or procuring any share or payment thereof under the provisions of this
subtitle shall be guilty of perjury.

SECTION 3. AND BE IT FURTHER ENACTED. That Section(s) 5-901(i)
through (r): 5-1101(e) through (h); 11-201(c) through (f); 11-401(f) through (n); and
11-501(d) through (n), respectively, of Article - Financial Institutions of the Annotated
Code of Maryland be renumbered to be Section(s) 5-901(h) through (q); 5-1101(d)
through (g); 11-201(b) through (e); 11-401(e) through (m); and 11-501(c) through (m),
respectively.

SECTION 2. 4. AND BE IT FURTHER ENACTED, That the Commissioner of
Financial Regulation is the successor to the State Bank Commissioner and the
Commissioner of Consumer Credit, as provided in this Act. In every law, executive order,
rule, regulation, policy or document created by any official, employee or unit of this State,
the names and titles of those officials means the name and title of the successor official,
as provided in this Act.

SECTION 3. 5. AND BE IT FURTHER ENACTED, That all employees of the
offices of State Bank Commissioner and Commissioner of Consumer credit shall be
transferred to the Office of Commissioner of Financial Regulation on the effective date
of this Act without any diminution of their rights, benefits, or employment status,
including, if any, merit system and retirement status.

SECTION 4. 6. AND BE IT FURTHER ENACTED, That, except as otherwise
expressly provided in this Act, nothing in this Act affects the term of office of an
appointed member of any board or commission, and a person who is a member of such a
unit on the effective date of this Act shall remain a member of that board or commission,
as the case may be.

SECTION 5. 7. AND BE IT FURTHER ENACTED, That, except as expressly
provided to the contrary in this Act, any transaction affected by or flowing from any
statute here amended, repealed, or transferred and validly entered into before the
effective date of this Act, and every right, duty or interest flowing from it remains valid
after the effective date of this Act and may be terminated, completed, consummated, or
enforced pursuant to law.

SECTION 6. 8. AND BE IT FURTHER ENACTED, That, except as otherwise
provided in this Act, all charters, permits, and licenses, applications for charters, permits,
and licenses, rules and regulations, proposed rules and regulations, standards and
guidelines, orders and other directives, forms, plans, memberships, special funds,
appropriations, grants, applications for grants, contracts, property, investigations,
administrative and judicial proceedings, rights to sue and be sued, and all other duties
and responsibilities associated with the functions transferred by this Act shall continue in
effect under the Commissioner of Financial Regulation, until completed, withdrawn,
canceled, modified, or otherwise changed pursuant to law.

SECTION 7. 9. AND BE IT FURTHER ENACTED, That if any provision of this
Act or the application thereof to any person or circumstance is held invalid for any reason
in a court of competent jurisdiction, the invalidity does not affect other provisions or any

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