998 ARTICLE 23

plied with the provisions of this sub-title, except that any foreign corpora-
tion, organized under and complying with the co-operative law of the State
of such corporation's creation, shall be entitled to use the term "co-opera-
tive" in this State provided that said corporation has complied with the
laws of this State applicable to other foreign corporations in so far as those
laws are applicable to said corporation, and provided, further, that said
corporation is doing business upon a co-operative basis, as defined in Sec-
tion 430 (b) of this Article.

(b) Every association organized under this sub-title shall use the term
"co-operative" as part of its corporate name or affixed thereto.

(c) Every corporation or association in existence at the time of the
passage of this act which is affected by any provision hereof, shall have
until July 1st, 1923, to comply with such provisions, and any such cor-
poration or association, which is required by any provision of this sub-
title to file an amendment to its articles of incorporation, shall have until
said date to file such an amendment.

(d) Any person who violates sub-section (a) of this section shall be
punished by a fine not exceeding five hundred dollars ($500.00) or by
imprisonment not exceeding six months, or by both such fine and imprison-
ment; and any corporation which violates said sub-section shall have its
right to do business in the State revoked in a proceeding brought in the
Circuit Court of the county where its office is located or in the Circuit
Court of Baltimore City if its office is located therein.

(e) Any association organized under this sub-title which shall violate
any provision of said sub-title or of the General Corporation Law applicable
to such association shall have its right to do business in this State revoked
in a proceeding brought in the circuit court of the county where its office
is located or in the Circuit Court of Baltimore City if its office is located
therein; and any foreign corporation admitted to do business in this State
upon the conditions specified in this section which shall commit a breach
of any such condition after its admission to business in this State, shall
have its license to do business in this State revoked in a proceeding brought
in the Circuit Court of the county where its office is located or in the Cir-
cuit Court of Baltimore City, if its office is located therein.

An. Code, 1924, sec. 447. 1935, ch. 258.

459. Any cooperative association or corporation, organized under the
laws of this State, or under the laws of the United States, or qualified to
do business in this State, and qualified as a cooperative association under
the laws of this State and/or under the laws of the United States, may
give as security for any loan or loans obtained from any bank for co-
operatives, organized under the act of Congress known as the Farm Credit
Act of nineteen hundred thirty-three, or for any loan or loans obtained
from any Federal intermediate credit bank, organized under an act of
Congress known as the Agricultural Credits Act of nineteen hundred
twenty-three, a chattel mortgage or deed of trust covering stocks of goods
or inventories, or other things in bulk, but changing in specifics, in which
case the lien of such mortgage or deed of trust shall be lost as to all
articles disposed of by the mortgagor prior to the extinguishment of such
mortgage, but shall attach to the articles purchased to supply their places.