ROBERT L. EHRLICH, JR., Governor                             Ch. 485

CHAPTER 485
(Senate Bill 849)

AN ACT concerning

Higher Education - University System of Maryland - Procurement

FOR the purpose of exempting from certain policies and procedures of the State
procurement law the procurement by the University System of Maryland of
services relating to the investment and management of gift and endowment
assets of the University System of Maryland; requiring the University System of
Maryland Board of Regents to submit a certain annual report to the Governor
the Comptroller, the Treasurer, and the General Assembly; requiring the
University System of Maryland Board of Regents to report to the Comptroller
and the Treasurer, by a certain date, on certain investment policies and
procedures adopted by the Board; and generally relating to the procurement by
the University System of Maryland of certain services relating to the investment
and management of certain gifts and assets.

BY repealing and reenacting, with amendments,
Article - Education
Section 12-104(e)
Annotated Code of Maryland
(2001 Replacement Volume and 2003 Supplement)

BY repealing and reenacting, without amendments,
Article - Estates and Trusts
Section 15-406
Annotated Code of Maryland
(2001 Replacement Volume and 2003 Supplement)

BY repealing and reenacting, with amendments,
Article - State Finance and Procurement
Section 11-203(e)
Annotated Code of Maryland
(2001 Replacement Volume and 2003 Supplement)

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

Article - Education

12-104.

(e) (1) The Board may:

[(1)] (I) Apply for, accept, and spend any gift or grant from the federal
government, any foundation, or any other person; and

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