2004 LAWS OF MARYLAND

(E)  (1) THE STATE TREASURER SHALL MANAGE, INVEST, AND REINVEST
THE TRUST IN THE SAME MANNER THAT STATE FUNDS ARE INVESTED.

(2) THE TRUST SHALL BE HELD AND ACCOUNTED FOR SEPARATE AND
APART FROM THE FUNDS OF THE STATE.

(F)   ANY INTEREST OR OTHER INVESTMENT EARNINGS OF THE TRUST SHALL
BE CREDITED TO AND PAID INTO THE TRUST.

(G)  (1) THE TRUSTEE SHALL MAKE PROVISION FOR A SYSTEM OF
FINANCIAL ACCOUNTING, CONTROLS, AUDITS, AND REPORTS.

(2) THE TRUSTEE SHALL REPORT TO THE GOVERNOR AND, IN
ACCORDANCE WITH § 2-1246 OF THIS ARTICLE, TO THE GENERAL ASSEMBLY ON OR
BEFORE DECEMBER 1, 2004, AND ANNUALLY THEREAFTER ON THE STATUS OF THE
ASSETS OF THE TRUST.

15-601.

(d) (1) An individual who is a public official only as a member of a board [or
who is a member of the Board of Trustees of the Maryland Health Care Foundation
established under § 20-501 of the Health - General Article] and who receives annual
compensation that is less than 25% of the lowest annual compensation at State grade
level 16 shall file the statement required by subsection (a) of this section in
accordance with § 15-609 of this subtitle.

SECTION 5. AND BE IT FURTHER ENACTED, That:

(a)     on or before June 1, 2004, the Maryland Health Care Foundation shall:

(1)     transfer all records of the Maryland Health Care Foundation
including records pertaining to Medbank of Maryland, Inc., to Medbank of Maryland,
Inc. the Maryland State Archives; and

(2)     transfer all other records, furniture, furniture and equipment of the
Maryland Health Care Foundation to the Department of Health and Mental Hygiene;
and

(b)     (1) the Governor shall transfer all funds remaining in the General
Investment Account of the Maryland Health Care Foundation as of June 1, 2004 to
Medbank of Maryland, Inc.; and

(2) after making the transfer required in paragraph (1) of this subsection.
the Governor may transfer all any remaining money and funds of the Maryland
Health Care Foundation existing as of June 1, 2004, to the Maryland Health Care
Trust.

SECTION 6. AND BE IT FURTHER ENACTED, That this Act shall take effect
June 1, 2004.

Approved May 11, 2004.

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Ch. 262