1102 LAWS OF MARYLAND. [CH. 576

or trust company there shall be included all loans made for
the benefit of the corporation. A loan shall be deemed to
be made for the benefit of a corporation or co-partnership
to the extent that the proceeds of such loan are transferred
to the corporation, co-partnership or association. In reck-
oning the liability of any borrower hereunder there shall
not be included its readily marketable bonds or like obliga-
tions held by a bank or trust company as an in-
vestment; nor shall said thirty per cent. (30%) limit
apply to any loan made to the State of Maryland or
to any county or municipality thereof maturing in
less than one year. Provided, however, that the lim-
itations provided by this section shall not apply to
any loan which does not exceed the sum of Thirty-five Hun-
dred Dollars ($3, 500. 00), unless such loan exceeds 20 % of
the surplus and paid-in capital; and provided further that
the limitations of this section shall not apply to any lia-
bilities lawfully incurred prior to the effective date of this
Act. For the purposes of this section the term "Bank"
shall include savings institutions having a capital stock.

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, supported
by three-fifths of all of the members elected to each of the
two Houses of the General Assembly, the same shall take
effect from the date of its passage.

Approved April 21, 1933.

CHAPTER 576.

AN ACT to add a new section to Article 3 of the Code of
Public Local Laws of Maryland (1929 and 1930 Edi-
tions), title "Baltimore County, " sub-title "Justices of the
Peace and Constables, " said new section to be known as
Section 392A and to follow immediately after Section
392 of said Article, and to repeal and re-enact with
amendments Sections 393, 394, 396, 403, 405 and 407 of
said Article 3, providing for the designation of certain
Justices of the Peace to be Justices of the Peace at Large,
fixing the salaries of certain Justices of the Peace and
relating generally to the duties and powers of the Jus-
tices of the Peace of Baltimore County.