Ch. 262                                    2004 LAWS OF MARYLAND

(2)     The Comptroller shall keep a record that shows each exemption and
the reasons for it.

(3)     The records shall be kept in the Office of the Comptroller and shall be
open to public inspection.

(d) (1) In this subsection, "State institution" includes a hospital or center
that the State operates.

(2)     The Treasurer may exclude from the State Treasury the personal
funds that a State institution holds for its residents or clients.

(3)     A State institution shall use, as a depositary for these funds, a
financial institution that the Treasurer approves.

(4)     The Treasurer may require the submission of a proposed agreement
between the State institution and the financial institution and may approve or
disapprove the agreement.

(5)     The accounts established by a State institution shall be interest
bearing accounts.

(6)     All interest on money of a resident or client of a State institution
shall be credited to the resident or client.

(7)     A State institution shall:

(i) keep records of all transactions that involve money of a resident
or client; and

(ii) provide the resident or client with a statement of those
transactions at least each 6 months and on discharge.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2004.

Approved May 11, 2004.

CHAPTER 262
(Senate Bill 296)

AN ACT concerning

Maryland Health Care Foundation Repeal and Maryland Health Care Trust

FOR the purpose of terminating the Maryland Health Care Foundation; altering the
entity to which the fair value of certain assets must be distributed for certain
acquisitions to be in the public interest; codifying the, and making certain
stylistic and conforming changes to, certain provisions of law relating to the
Maryland Health Care Trust; altering the trustee of the Maryland Health Care
Trust to be the State Treasurer; altering the contents of the Trust; repealing an

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