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PARRIS N. GLENDENING, Governor
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Ch. 142
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§ 22G of the ANNOTATED Code OF MARYLAND or deposit in income-producing bank
accounts, such county funds as are not required to be used for immediate
disbursement or expenditures for county purposes.
(B) Investments and deposits are subject to the approval of the
County Commissioners as to the amount so available for investment or deposit and
the acceptable securities, depositories, or financial institutions; however, such
approval shall not relieve the Treasurer of liability for the security of such
investments and deposits according to law.
(C) Such investments or deposits shall only be made when the bank
or financial institution has set aside a like amount of United States Treasury bills,
bonds, or notes no collateral in escrow A LIKE AMOUNT OF COLLATERAL OF THE
TYPES SET FORTH IN § 6-202 OF THE STATE FINANCE AND PROCUREMENT ARTICLE,
covering the bank deposits by at least a market value of 102% of the deposit amount
to the extent that such deposits are not secured by government insurance.
(D) Interest earned on investments and deposits in any one fiscal
year shall be used no later than the following fiscal year for general county expenses.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2000.
Approved April 25, 2000.
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CHAPTER 142
(House Bill 565)
AN ACT concerning
Charles County - Alcoholic Beverages - License Transfers
FOR the purpose of clarifying that, when seeking a transfer of an existing alcoholic
beverages license, the transferor or assignor must present to the Board of
License Commissioners of Charles County certification from the Treasurer of
the County showing that certain taxes do not remain unpaid; and generally
relating to alcoholic beverages license transfers in Charles County.
BY repealing and reenacting, with amendments,
Article 2B - Alcoholic Beverages
Section 10-503(j)
Annotated Code of Maryland
(1098 Replacement Volume and 1999 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
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- 819 -
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