H.B. 590

VETOES

22H.

(A)     THERE IS A MONTGOMERY COUNTY INVESTMENT POOL THAT CONSISTS
OF MONEY OF MONTGOMERY COUNTY, OTHER LOCAL GOVERNMENTS, AND PUBLIC
AND NONPROFIT ENTITIES THAT HAVE PLACED MONEY IN THE POOL FOR
INVESTMENT PURPOSES.

(B)     THE MONTGOMERY COUNTY INVESTMENT POOL:

(1)      SHALL BE ADMINISTERED BY THE MONTGOMERY COUNTY
DIRECTOR OF FINANCE; AND

(2)      SHALL BE MANAGED IN ACCORDANCE WITH THE INVESTMENT
POLICY ADOPTED BY MONTGOMERY COUNTY UNDER § 22F OF THIS ARTICLE. .

(C)     THE MONTGOMERY COUNTY INVESTMENT POOL MAY NOT ACCEPT
FUNDS FROM ANY ENTITY THAT IS NOT PARTICIPATING IN THE POOL ON JULY 1,
1996.

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

May 22, 1997

The Honorable Casper R. Taylor, Jr.
Speaker of the House
State House
Annapolis MD 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed House Bill 590.

This bill prohibits the State Commissioner of Financial Regulation and the employees of,
and the attorney for the Commissioner's Office from disclosing otherwise private
information about a credit union except in the performance of a public duty to report or
take action on a credit union in testimony in a criminal proceeding. All confidential
information disclosed to any person remains the property of the Commissioner and may
not be disclosed without the written permission of the Commissioner. The penalties for
violating these provisions are a fine of $1,000 and/or imprisonment not exceeding two
years.

Senate Bill 251, which was passed by the General Assembly and signed by me on this
date, accomplishes the same purpose. Therefore, it is not necessary for me to sign House
Bill 590.

Sincerely,

Parris N. Glendening

Governor

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