EDWIN WARFIELD, ESQ., GOVERNOR.

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CHAPTER 240.

AN ACT to repeal and re-enact with amendments Section 99

of Article 23 of the Code of Public General Laws, entitled

"Corporations," sub-title "Building or Homestead Associa-

tions," as said section was amended by Chapter 321 of the

Acts of 1894.

SECTION 1. Be it enacted by the General Assembly of Mary-

land, That Section 99 of Article 23 of the Code of Public

General Laws, as said section was amended by Chapter 321

of the Acts of 1894, be and the same is hereby repealed and

re-enacted so as to read as follows:

99. The payment of the unpaid instalments and the

premium agreed upon for each share, and also all fines, assess-

with interest on the money paid therefor as aforesaid, and all

fines and penalties incurred in respect thereof by any member,

shall be secured to such corporation by mortgage on real or

Mortgage on

leasehold property, or by the hypothecation of stock of such

property on
hypotheca-

corporation held by such member, as may be provided in the

tion of stock.

articles of association or by-laws; but in case of hypotheca-

tion of stock, no greater sum of money shall at any time be

drawn out by any member than shall have been already paid

in by him on all his shares at the time of such hypothecation,

and any such mortgage and the mortgage debt created thereby,

and the shares of stock of any corporation, and of all building

associations, are declared to be exempt from taxation to the

Exempt from

extent of the investments of such corporation in mortgages,

taxation.

whether said mortgages be building association mortgages or

ordinary mortgages, the property so mortgaged to the corpor-

ation being taxed in the hands of the mortgagor.

SEC. 2. And be it enacted, That this Act shall take effect

from the date of its passage.

Approved April 8, 1904.

CHAPTER 241.

AN ACT to provide for State Registration of Nurses.

SECTION 1. Be it enacted by the General Assembly of Mary-

land, That upon the taking effect of this Act, the Maryland

State registra-
tion of nurses

State Association of Graduate Nurses shall nominate for ex-

aminers twelve of its members who have had not less than

five years experience in their profession; these nominations

shall be submitted to the Governor of the State, who shall