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Session Laws, 1933 Session
Volume 421, Page 100   View pdf image (33K)
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100 LAWS OF MARYLAND. [CH. 48

Homestead Associations", said new section to follow im-
mediately after Section 171, of said Article, to be known
as Section 171A, and to read as follows:

171 A. No association incorporated under Sections 161
to 171, both inclusive of this Article, and no building or
homestead association incorporated under any law of this
State, and doing business herein, shall, prior to June 1,
1935, be required to pay out at any regular meeting of
such association or corporation, to any holder of unre-
deemed shares wholly or partially paid up, a greater
amount than his pro rata share of the total amount of
dues received by such association or corporation from
borrowing members at such meeting in the ratio which
the total paid in value of the shares demanded for re-
demption bears to the total paid in value of unredeemed
shares then outstanding.

SEC. 2. And be it further enacted, That this Act is here-
by declared to be an emergency law and necessary for the
immediate preservation of the public health and safety,
and having been passed upon a yea and nay vote sup-
ported by three-fifths of all of the members elected to each
house of the General Assembly, the same shall take effect
from the date of its passage.

Approved March 4, 1933,

CHAPTER 48.

AN ACT to add a new section to Article 47 of the Code of
Public General Laws of Maryland (1924 Edition), title
"Insolvents, " said new section to be known as Section
15A and to follow immediately after Section 15 of said
Article, for the purpose of defining the rights and pri-
orities of landlords for rent in cases where a tenant has
made an assignment for the benefit of creditors, or shall
be adjudicated insolvent, or shall be adjudicated bank-
rupt, or shall be dissolved as a corporation, or a receiver
is appointed to take possession of the tenant's property
or estate.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That a new section be and the same hereby is

 

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Session Laws, 1933 Session
Volume 421, Page 100   View pdf image (33K)
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