MARYLAND MANUAL 517
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.
For Against
Allegany .
|
5,463
|
2,089
|
Anne Arundel
|
19,897
|
2,584
|
Baltimore
|
59,519
|
11,853
|
Calvert. „
|
945
|
229
|
Caroline
|
1,172
|
244
|
Carroll
|
4,110
|
1,004
|
Cecil „ ...
|
2,872
|
794
|
Charles .. „
|
1,859
|
359
|
Dorchester .
|
1,523
|
273
|
Frederick .. „
|
5,434
|
1,334
|
Garrett
|
698
|
1,272
|
Harford -
|
7,229
|
1,093
|
Howard ..
|
4,853
|
647
|
Kent „ .
|
1,117
|
234
|
Montgomery -
|
51,377
|
4,240
|
Prince George's
|
34,510
|
4,287
|
Queen Anne's
|
1,074
|
129
|
St. Mary's
|
1,693
|
412
|
Somerset
|
729
|
163
|
Talbot
|
2,477
|
282
|
Washington
|
7,642
|
1,713
|
Wicomico ..
|
3,566
|
505
|
Worcester „
|
1,251
|
153
|
Baltimore City
|
57,941
|
16,813
|
TOTALS .. . .
|
278,951
|
52,706
|
|
|