ALBERT C. RITCHIE, GOVERNOR. 1113

sion of any such institution as receiver in the manner pro-
vided by Section 9 of this Article; provided, however, that
nothing contained in this section shall apply to any shares
of capital stock pledged to any bank or trust company prior
to the passage of this Act. For the purposes of this sec-
tion the term "bank" shall include savings institutions
having a capital stock.

SEC. 2. And be it further enacted, That this Act is
hereby 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 580.

AN ACT to add a new section to Article 48A of the Code
of Public General Laws of Maryland entitled "Insur-
ance, " sub-title "Life, Accident and Health Insurance, "
to be designated as Section 98A and to follow immedi-
ately after Section 98 of said Article 48A relating to
membership and voting.

Every policyholder of a Mutual Insurance Company en-
gaged in the business of Life, Accident and Health Insur-
ance under the provisions of this Article shall be a member
of said Company while the policy issued to such policy-
holder is in force. Every member of the Company shall
be entitled to one vote or to such a number of votes based
upon the insurance in force, the number of policies held or
the amount of premium paid, as may be provided in the
By-Laws. Any such member may vote either in person or
by proxy but no proxy which is dated more than three
months before the meeting at which it is offered shall be
accepted unless such proxy shall, on its face, name a longer
period for which it is to remain in force, or shall state that
it is to remain in force as long as said policyholder is a
member of said Company. Any member may revoke any
such proxy at any time.

Approved April 21, 1933.