Ch. 243  1997 LAWS OF MARYLAND

(3) REQUIRE THE PAYMENT OF FULL COMMISSIONS TO A NEW AGENT OR
BROKER WHERE THE ORIGINAL WRITING AGENT OR BROKER OR CURRENT AGENT OR
BROKER CONTINUES TO HAVE RESPONSIBILITY FOR PROCESSING AND MATTERS
RELATING TO THE POLICYHOLDER.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1997.

Approved April 29, 1997.

CHAPTER 243
(House Bill 520)

AN ACT concerning

Creation of a State Debt - Baltimore City - Mercy Medical Center

FOR the purpose of authorizing the creation of a State Debt not to exceed $500,000, the
proceeds to be used as a grant to the Board of Directors of Mercy Medical Center,
Inc. for certain acquisition, development, or improvement purposes; providing for
disbursement of the loan proceeds, subject to a requirement that the grantee
provide and expend a matching fund; prohibiting the use of any of the proceeds or
of the matching funds for sectarian religious purposes; and providing generally for
the issuance and sale of bonds evidencing the loan.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That:

(1) The Board of Public Works may borrow money and incur indebtedness on
behalf of the State of Maryland through a State loan to be known as the Baltimore City
- Mercy Medical Center Loan of 1997 in a total principal amount equal to the lesser of (i)
$500,000 or (ii) the amount of the matching fund provided in accordance with Section
1(5) below. This loan shall be evidenced by the issuance, sale, and delivery of State
genera] obligation bonds authorized by a resolution of the Board of Public Works and
issued, sold, and delivered in accordance with §§ 8-117 through 8-124 of the State
Finance and Procurement Article and Article 31, § 22 of the Code.

(2) The bonds to evidence this loan or installments of this loan may be sold as a
single issue or may be consolidated and sold as part of a single issue of bonds under §
8-122 of the State Finance and Procurement Article.

(3) The cash proceeds of the sale of the bonds shall be paid to the Treasurer and
first shall be applied to the payment of the expenses of issuing, selling, and delivering the
bonds, unless funds for this purpose are otherwise provided, and then shall be credited on
the books of the Comptroller and expended, on approval by the Board of Public Works,
for the following public purposes, including any applicable architects' and engineers' fees:
as a grant to the Board of Directors of Mercy Medical Center, Inc. (referred to hereafter
in this Act as "the grantee") for the planning, design, and construction of, and for the

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