CORPORATIONS 865

the unredeemed shares outstanding and entitled to vote, declare, by reso-
lution, its determination to convert said association into a Federal Savings
and Loan Association with all the powers reserved to and granted such
Federal Savings and Loan Association, as provided for in the Act of the
Congress of the United States approved the 13th day of June, 1933, en-
titled "The Home Owners Loan Act of 1933," or any amendments that
have been made or that may hereafter be made thereto.

(c) Within six months after the date of the meeting and determination
referred to in paragraph (b) hereof such association or company shall
take such action as is prescribed by the Act of Congress and the rules and
regulations promulgated thereon by the Federal Home Loan Bank Board,
as shall make it a Federal Savings and Loan Association, and as such
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 Sec-
tion 38, 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 Section.

(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.

An. Code, 1924, sec. 172. 1912, sec. 144. 1904, sec. 132. 1888, sec. 105. 1868 ch. 471

sec. 79. 1939, ch. 360.

174. No cemetery company formed under the provisions of this Article
shall be authorized or empowered to purchase, hold or use, for the pur-
pose of burial, more than one hundred acres of land nor any ground that
shall be comprised within the limits of any city or town in this State,
unless the corporate authorities of said city or town shall authorize the
same. Provided, however, that in Spauldings Election District in Prince
George's County such company is hereby authorized and empowered to
purchase, hold, or use up to, but not in excess of, one hundred and twenty-
five acres of land in one tract for such purpose.

Cited in Cemetery v. Baltimore Co., 174 Md. 283.

As to the exemption of graveyards, cemeteries and cemetery companies from taxa-
tion, see art. 81, sec. 7.

As to graveyard desecrations, see art. 27, sec. 310, et seq.

As to sale of burial grounds, see art. 16, sec. 115.

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.

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