442 LAWS OF MARYLAND. [CH. 197

Section 471. The original articles of incorporation of an
association organized under this Act. or a true copy thereof
verified as such by the affidavits of two of the signers thereof
shall be filed with the State Tax Commission who shall record
and transmit a copy in all respects as provided in Section 4
of this article for other corporations, but such cooperative
associations shall be exempt from the bonus tax provided in
Section 88A of this article.

SEC. 472. The articles of incorporation of any association
organized under this Act or which may elect to come under the
provisions of this Act may be amended in the following man-
ner: The board of directors, by majority vote of its members,
may pass a resolution setting forth the full text of the pro-
posed amendment and also the full text of such section or
sections as may be repealed by such amendments. Upon such
action by the board of directors, notice shall be mailed to each
and every member containing a copy of the resolution so
adopted, the full text of the proposed amendment and also the
the full text of such section or sections as may be repealed by
such amendment. Such notice shall also designate the time and
place of the meeting at which such proposed amendment shall
be considered and voted upon, in the same manner as else-
where provided in this Act. If a quorum of the members is
registered as being present or represented by mail votes at
such meeting, a majority of the members so present or repre-
sented by mail vote, may adopt or reject such proposed amend-
ment; provided that no amendment may be adopted inconsis-
tent with Section 470.

Said power to amend shall include the power to increase or
diminish the amount of capital stock and the number of shares;
provided, that the amount of the capital stock shall not be
diminished below the amount of the paid-up capital at the
time that the amendment is adopted. Within thirty days after
the adoption of an amendment to its articles of incorporation,
an association shall cause a copy of such amendments adopted
to be filed with the State Tax Commission, who shall record
and transmit a copy in all respects as provided in Section 25
of this article for other corporations.

Section 473. The recording fees for filing articles of in-
corporations or amendments thereto shall be the same and
paid and accounted for in the same way, as provided in this
article for other corporations.