ALBERT C. RITCHIE, GOVERNOR. 411

by the Board of County Commissioners, the recordation of
such bond shall have the effect of an entry of judgment
against the Treasurer and such surety, and for all legal
purposes shall be treated as a judgment at law as if the
same had been duly entered at the suit of the said County
Commissioners and no property of such Treasurer or surety
shall be released from the effect thereof, except upon an
order of the Board of County Commissioners, and the said
County Commissioners shall levy such sums as may be
necessary to defray the expenses thereof if such bond is
given or executed by surety or guarantee company.

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1933.

Approved April 21, 1933.

CHAPTER 237.

AN ACT to add a new section to Article 90 of the Code of
Public General Laws, title "Sureties, " sub-title "Counter
Securities, " to follow immediately after Section 9, and
to be known as Section 9A, providing for the sale of
stocks and bonds deposited with the State Treasurer, as
collateral for State deposits in the event of default and
providing the procedure therefor and the terms thereof.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That a new section be and hereby is added to
Article 90 of the Code of Public General Laws, title "Sure-
ties, " sub-title "Counter Securities, " to follow immediately
after Section 9, and to be known as Section 9A, to read as
follows:

9A. In the event of a default upon a bond of any bank
or trust company, the stocks and bonds held as collateral,
as provided in Section 9 hereof, shall be sold by the State
Treasurer, at public or private sale, upon, the consent of
the banking institution pledging the same or of the re-
ceiver or other official in charge of the affairs of said
bank at the best price obtainable by him, and the
purchaser of said stocks and bonds may pay for the
same either at the time of the transfer of said stocks
and bonds or over such period or periods of time