WM. PRESTON LANE, JR., GOVERNOR. 203

violate any of the provisions of this section shall, upon con-
viction thereof, be deemed guilty of a misdemeanor and shall
be fined not less than Three Hundred Dollars ($300.00) nor
more than One Thousand Dollars ($1,000.00), or imprisoned
for not less than thirty (30) days nor more than six (6)
months, or both. Nothing in this section shall apply to any
trader's license if the average amount of goods, wares, and
merchandise shall exceed $10,000.00, nor shall anything in
this section be construed as changing the provisions of Section
11 of Article 30 of the Annotated Code of Maryland (1943
Suplement).

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1947.

Approved March 15,1947.

CHAPTER 137.
(House Bill 176)

AN ACT to repeal and re-enact, with amendments, paragraph
(b) of Sub-section (1) of Section 25 of Article 48A of the
Annotated Code of Maryland (1943 Supplement), title "In-
surance", sub-title "General Provisions", authorizing domes-
tic stock and mutual life insurance companies to invest a por-
tion of their funds in obligations of the International Bank
for Reconstruction and Development.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That paragraph (b) of Sub-section (1) of Section 25
of Article 48A of the Annotated Code of Maryland (1943
Supplement), title "Insurance", sub-title "General Provi-
sions", be and the same is hereby repealed and re-enacted,
with amendments, to read as follows:

25.

(1)

(b) Interest bearing bonds, notes, certificates of indebt-
edness, bills or other direct interest bearing obligations of the
United States of America or of the Dominion of Canada or
other interest bearing obligations fully guaranteed both as to
principal and interest by the United States of America, or
by the Dominion of Canada, and obligations of the Inter-
national Bank for Reconstruction and Development, any of