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MARYLAND MANUAL 463
STATE-WIDE REFERENDA
Chapter 205—Acts of 1961
An Act to add new Sections 161A-161KK to Article 23 of the Anno-
tated Code of Maryland (1957 Edition), title "Corporations," sub-title
"Building or Homestead Associations," to follow immediately after
Section 161 thereof, providing generally for the organization, incor-
poration, operation, conduct, regulation of and supervision over the
savings and loan business, which is known generally as the building,
savings, and loan or homestead business; providing further for the
investments, withdrawal of accounts, taxation, membership, promo-
tional activities, management and functions of such businesses, includ-
ing class and type of securities, and allocation of profits, reserves
and dividends; providing for the branching, consolidation, merger, dis-
solution, and revival of such businesses; making provision for con-
servators and receivers for such businesses; exempting accounts of
such businesses from "Blue Sky Law"; creating a Board of Building,
Savings and Loan Association Commissioners, and making provision
for the members of such Board and for their qualifications, tenure,
powers, and duties; creating a Department of Building, Savings and
Loan Associations, providing for a Director and for other officers and
employees of this Department, and making provision for the appoint-
ment, duties, compensation, policy, powers and duties of all such
officers and employees of this Department; providing methods for
compliance with stock class requirements; providing penalties for
failure or refusal to comply with certain provisions of this Act; and
relating generally to the organizations and businesses known gen-
erally as building, savings and loan or association homestead busi-
nesses in this State.
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For
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Against
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Allegany........................................
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5,463
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2,089
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Anne Arundel..........................
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19,897
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2,584
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Baltimore......................................
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59,519
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11,853
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Calvert............................................
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945
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229
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Caroline..........................................
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1,172
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244
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Carroll...........................................
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4,110
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1,004
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Cecil. ........
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2,872
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794
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Charles ............
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1,859
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359
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Dorchester..
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1,523
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273
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Frederick......................................
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5,434
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1,334
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Garrett............................................
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698
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1,272
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Harford.......................................
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7,229
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1,093
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Howard...........................................
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4,853
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647
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Kent..................................................
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1,117
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234
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Montgomery..............................
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51,377
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4,240
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Prince George's.....................
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34,510
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4,287
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Queen Anne's...........................
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1,074
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129
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St. Mary's...................................
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1,693
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412
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Somerset.......................................
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729
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163
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Talbot...............................................
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2,477
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282
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Washington................................
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7,642
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1,713
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Wicomico...............................
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3,566
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505
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Worcester.....................................
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1,251
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153
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Baltimore City.......................
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57,941
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16,813
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TOTALS............................................
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278,951
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52,706
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