626 LAWS OF MARYLAND.

of the members of said board by yeas and nays shall be taken
on the question of granting or refusing every application for
licenses, and whenever any license granted by said board shall
be hypothecated or assigned for any of the purposes set forth
in section 690A of this article, the said board, shall at the re-
quest of the person, firm, association or corporation to whom
said license has been hypothecated or assigned, record the in-
strument of hypothecation or assignment in a suitable book
kept for that purpose and shall return said instrument to the
party presenting the same after having endorsed thereon the
fact of such recording and the day and date thereof; and said
records of said Board shall at all suitable times be open to the
inspection of the public, and shall be deemed and taken as
actual notice to all persons of the matters and facts recorded
therein; all necessary books and stationery shall be furnished
by the Mayor and City Council of Baltimore, and all salaries
and expenses incident to the business of the board shall be
paid by the Mayor and City Council of Baltimore.

690A. In addition to the powers conferred by section 690 of
this article, any holder of a license to sell intoxicating liquors
at retail, by the drink or otherwise, may assign, hypothecate or
pledge said license to any person, firm, association or corpora-
tion as security for the repayment of any debt or the perform-
ance of any obligation and the instrument so assigning, hy-
pothecating or pledging said license shall, upon the application
of the person, firm, association or corporation to whom the
same shall be made, be recorded by said board as provided in
section 669 of this article; and whenever it shall be made to ap-
pear to said board upon petition duly verified by affidavit that
default has occurred in any of the conditions set forth in said
instrument, hypothecation or pledge, and the licensee refuses
to deliver the license to the party thereby entitled to same, the
said board shall have power, after such hearing as it may deem
advisable, to revoke the original license and issue a duplicate
license in lieu thereof, and upon so receiving said duplicate the
said assignee or pledgee shall have all the rights and privileges
conferred upon holders of licenses by the provisions of this
article; provided, however, that nothing in this section con-
tained shall prevent any licensee who shall have assigned,
hypothecated or pledged a license under the provisions of this
section from prosecuting the business for which said license
was granted until the same shall have been revoked by said
board under the provisions of this section; and provided,
further, that nothing in this article contained shall prevent the
issuing of duplicate licenses under the provisions of this section
to any person or corporation whatsoever; provided, also, that