PARRIS N. GLENDENING, Governor                                S.B. 345

C. THE INTEREST RATE OF THE INSTRUMENT VARIES
DIRECTLY, AND NOT INVERSELY, WITH THE INDEX ON WHICH IT IS BASED AND IS
NOT RESET AS A MULTIPLE OF THE CHANGE IN THE RELATED INDEX;

(XVII)  INVESTMENTS IN FIXED ASSETS AS DEFINED IN THE CODE OF
MARYLAND REGULATIONS (COMAR) 09.03.01.18; AND

(XVIII) DEPOSITS IN A CREDIT UNION SHARE AND DEPOSIT INSURER
REPRESENTING AN INSURED CREDIT UNION'S CAPITALIZATION ACCOUNT BALANCE
OF 1 PERCENT OF INSURED SHARES.

(A) IN THIS SECTION, "RISK ASSETS" MEANS A CREDIT UNION'S TOTAL LOANS
OUTSTANDING TO ITS MEMBERS.

6-604.

(A) (1) A credit union may borrow money for not longer than 1 year from any
source, including another credit union, as long as the total borrowing does not exceed 50
percent of the paid-in and unimpaired capital and surplus of the borrowing credit union.

(2) The 1-year period may be extended for an additional year with the
approval of the Commissioner.

(B) NOTWITHSTANDING SUBSECTION (A) OF THIS SECTION, A CREDIT UNION
MAY BORROW MONEY TOR LONGER THAN 1 YEAR:

(1) TO PURCHASE FIXED ASSETS, WITH THE APPROVAL OF THE
COMMISSIONER; OR

(2) IF THE LOAN IS OBTAINED FROM A FEDERAL HOME LOAN BANK.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1997.

May 22, 1997

The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis MD 21401

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today
vetoed Senate Bill 345.

This bill increases the number of days that an alcoholic beverages licensee in Harford
County may conduct tasting or sampling events from 24 to 52 days. The bill also increases
the fee for a CWBT license from $250 to $350.

House Bill 1221, which was passed by the General Assembly and signed by me on this
date, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate
Bill 345.

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