CORPORATIONS. 271

entitled to all the privileges and powers contained in the Act of Congress
providing for the formation and organization of such Federal corporations,
and within sixty days after receipt of its Federal charter there shall be
filed in the office of the Clerk of the Court in the County or Counties,
or in the City of Baltimore in the office of the Clerk of the Superior
Court, in which said State association had been conducting its business
and operation, and in the office of the State Tax Commission duly certified
copies of its charter.

(d) All conversions, including sale and exchange of assets under Article
23, Section 36, of the Code of Public General Laws of Maryland, 1924
Edition, heretofore made by building, homestead and loan associations in
this State are hereby validated and declared to be of the same effect as if
said conversions, including sale and exchange of assets, had been effected
under the provisions of this Act.

(e) For purposes of taxation or doing business within this State, any
association or corporation availing itself of the privileges of this section
shall be regarded as a domestic corporation of this State, and its property,
shares and assets shall be taxed in the same manner and to the same extent
as the property, shares and assets of domestic homestead and building
associations of this State, and shall in every other respect be regarded as
a domestic corporation of this State. ¹

Cemetery Companies.

176. Repealed by ch. 461 of the Acts of 1929.
Sec art. 27, sec. 264.

Gas and Electric Light Companies.
178.

This section in effect gives authority to Mayor and City Council of Ocean City
to grant franchise to corporation to supply electric energy through city and
franchise may be granted without adequate compensation. Purnell v. Ocean
City, 162 Md. 173.

Municipal Corporations.

1927, ch. 690, sec. 193A.

193A. Any municipal corporation of this State now owning or here-
after acquiring an electric plant and/or gas plant, as defined in Section
346 of this Article, shall have power to sell, lease, exchange or otherwise
dispose of such electric plant and/or gas plant, or any part of or interest
in either thereof, to any electrical corporation and/or gas corporation, as
defined by said Section 346, upon such terms and conditions as such mu-
nicipal corporation shall determine, provided any such sale, lease, exchange
or other disposition shall be approved by the Public Service Commission

¹ Sec. 2, ch. 232, of Acts of 1935, repealed all laws inconsistent therewith to extent
of inconsistency. Sec. 3 of said act provides that if any provision thereof is held
invalid the remaining portions shall not be affected thereby.