The Honorable Casper R. Taylor, Jr.
Speaker of the House
Annapolis MD 21401
Dear Mr. Speaker:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed House Bill 955 - Maryland Uniform Transfer-on-Death Security Registration Act - Trust Companies.
This bill amends the Maryland Uniform Transfer-on-Death Security Registration Act to allow securities held by trust companies other than in a fiduciary capacity to be transferred directly to a transferee designated by the owner of the securities after the death of the owner.
Senate Bill 373, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign House Bill 955.
Parris N. Glendening