Marvin Mandel, Governor                        1333

CHAPTER 634
(Senate Bill 65)

AN ACT to repeal and re-enact, with amendments, Ejection 45 of
Article 23 of the Annotated Code of Maryland (1966 Replacement
Volume), title "Corporations", subtitle "Stock Corporations," sub-
heading "Capital Stock and Stockholders," to delete the provision
allowing stockholders of a corporation to assign their stock to a
trustee or trustees under an existing voting trust agreement to
which the stockholder is not originally a party.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 45 of Article 23 of the Annotated Code of Maryland,
(1966 Replacement Volume) title "Corporations," subtitle "Stock
Corporations," subheading "Capital Stock and Stockholders," fee
and it is hereby repealed and re-enacted, with amendments, to read
as follows:

45.

Any one or more stockholders of a corporation may confer upon
a trustee or trustees the right to vote or otherwise represent their
shares for a period not to exceed ten years, by entering into a writ-
ten voting trust agreement specifying the terms and conditions of
the voting trust, by depositing an executed copy of the agreement
with the corporation at its principal office, and by transferring their
shares to such trustee or trustees for the purposes of the agreement.
[Every other stockholder, upon his request therefor, may by like
agreement in writing also transfer all or any part of his shares to
the same trustee or trustees and thereupon may participate in the
terms, conditions and privileges of such agreement.]

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1971.

Approved May 24, 1971.

CHAPTER 635

(Senate Bill 86)

AN ACT to repeal and re-enact, with amendments, Section 12D of
Article 81 of the Annotated Code of Maryland, (1969 Replace-
ment Volume), title "Revenue and Taxes," subtitle "What Shall
Be Taxed and Where," to provide that in Howard County a tax-
payer must meet certain annual requirements to receive addi-
tional tax credits, and to correct an error therein.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 12D of Article 81 of the Annotated Code of Maryland,
(1969 Replacement Volume), title "Revenue and Taxes," subtitle
"What Shall Be Taxed and Where," be and it is hereby repealed
and re-enacted, with amendments, to read as follows: