PARRIS N. GLENDENING, Governor                             Ch. 723

(E) THE GOVERNOR SHALL INCLUDE IN THE STATE BUDGET AN
APPROPRIATION SUFFICIENT TO CONSTRUCT, OPERATE, MAINTAIN, AND UPGRADE
THE TELECOMMUNICATION AND COMPUTER NETWORK REQUIRED UNDER THIS
SECTION.

SECTION 2. AND BE IT FURTHER ENACTED, That the Governor is requested
to include in the State budget for each of the Fiscal Years 1999 through 2002 an
appropriation of $500,000 sufficient to lease or construct, operate, maintain, and upgrade
the telecommunication and computer network required under § 3-705 of the State
Finance and Procurement Article, as enacted by this Act.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1997.

Approved May 22, 1997.

CHAPTER 723
(House Bill 1131)

AN ACT concerning

Corporations and Real Estate Investment Trusts - Voting Trusts

FOR the purpose of repealing the ten-year limit on the term of a voting trust agreement
for corporations; repealing certain requirements for extending a voting trust
agreement for corporations; providing for voting trust agreements for real estate
investment trusts; providing that a voting trust for a real estate investment trust can
be established by entering into a certain written agreement, depositing the
agreement with the principal office of the real estate investment trust, and
transferring the shares of beneficial interest for purposes of the agreement to the
trustee; and generally relating to the establishment of voting trusts.

BY repealing and reenacting, with amendments,
Article - Corporations and Associations
Section 2-510

Annotated Code of Maryland
(1993 Replacement Volume and 1996 Supplement)

BY adding to

Article - Corporations and Associations

Section 8-303

Annotated Code of Maryland

(1993 Replacement Volume and 1996 Supplement)

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

- 4125 -