ROBERT L. EHRLICH, JR., Governor                             Ch. 115

(2) THE FINANCIAL INSTITUTION HAS BEEN FOUND, THROUGH AN
ADMINISTRATIVE OR JUDICIAL PROCESS, TO HAVE DISCRIMINATED IN ITS LENDING
PRACTICES ON THE BASIS OF RACE, GENDER, OR NATIONAL ORIGIN.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 2004. It shall remain effective for a period of 1 year and 3 months and,
at the end of September 30, 2005, with no further action required by the General
Assembly, this Act shall be abrogated and of no further force and effect.

Approved April 27, 2004.

CHAPTER 115
(House Bill 415)

AN ACT concerning

State Treasurer—Selection of Financial Institutions
Task Force on Lending Equity within Financial Institutions Providing State

Depository Services

FOR the purpose of requiring certain financial institutions to submit a certain report
to the Commissioner of Financial Regulation and the State Treasurer; specifying
the contents of the report; altering the criteria the State Treasurer must
consider prior to selecting a financial institution as a depositary to include the
extent of commercial loans made to certain minority business enterprises;
prohibiting the State Treasurer from selecting certain financial institutions as
depositaries; and generally relating to the selection of a financial institution as
a depositary by the State Treasurer establishing a Task Force on Lending
Equity within Financial Institutions Providing State Depository Services;
providing for the purpose of the Task Force; providing for the composition,
co-chairmen, and staff of the Task Force; providing that the members of the
Task Force may not receive compensation, but may be reimbursed for certain
expenses; providing for the duties of the Task Force; requiring the Task Force to
submit certain reports to the Governor and to the General Assembly on or before
certain dates; providing for the termination of this Act; defining certain terms;
and generally relating to the Task Force on Lending Equity within Financial
Institutions Providing State Depository Services.

BY adding to

Article—Financial Institutions

Section 1-207

Annotated Code of Maryland

(2003 Replacement Volume)

BY repealing and reenacting, with amendments,
Article—State Finance and Procurement
Section 6-207

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