EMERSON C. HARRINGTON, GOVERNOR. 199

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the following additional section be added to Article
90 of the Code of Public General Laws, entitled '' Sureties, '' to
follow Section 8, and to be known as Section 8-A of said article:

8-A. When the surety or sureties on the bond of any bank
or trust company used as a depository for the funds of the
State Treasurer shall notify the Governor and the State Treas-
urer of their or its desire to be relieved from further liability
as such surety, as provided in the preceding section of this ar-
ticle, or when any new bond shall be given by any bank or trust
company, that may be used as a depository for the funds of the
State by the State Treasurer, it shall be lawful for the State
Treasurer to receive from such bank or trust company, its
bond, conditioned, as provided by law, and, as surety collateral
to the said bond, instead of the surety heretofore provided
by law, registered public stock of the United States or of
the State of Maryland or of Baltimore City or the
bonds of any county or municipal corporation of this
state which shall be approved by the State Treasurer to
the amount, in value, of the penalty of the bond, and said
amount shall be at all times maintained by said bank or trust
company; which stock must be registered in the name of said
Treasurer, officially, as held in trust under and pursuant to this
section and the same shall be held by said Treasurer in trust to
secure the performance of the conditions of the said bond. Any
such bank or trust company that may heretofore have given
the bond, as heretofore provided by law, may at any time secure
the cancellation of said bond and the substitution of a bond
with such securities as are hereinbefore provided for, and any
such bank or trust company may at any time, withdraw from
the State Treasurer such collateral securities with the bond to
which the securities are attached and file, in lieu thereof, such
bonds as have heretofore been accepted by the State Treasurer;
provided that no substitution of a bond with collateral or a bond
with other securities for a bond with collateral shall be made
oftener than once in each twelve months.

Approved March 28th, 1916.

CHAPTER 116.

AN ACT to repeal and re-enact with amendments Section 78
of Article 33 of the Code of Public General Laws (Bagby).