The Honorable Casper R. Taylor, Jr.
Speaker of the House
State House
Annapolis MD 21401

Dear Mr. Speaker:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed House Bill 50.

This bill consolidates and modernizes bank charter laws and streamlines various reporting requirements for financial institutions. The bill also authorizes the Commissioner of Financial Regulation to grant State-chartered banks the authority to engage in the same kinds of commercial activity, service or practice that the federal government authorizes for national banks.

Senate Bill 114, which was passed by the General Assembly and signed by me on May 27, 1999, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 50.

Parris N. Glendening