ALBERT C. RITCHIE, GOVERNOR. 750

repealed and re-enacted by Chapter 226 of the Acts of 1916,
be, and the same is hereby repealed and re-enacted so as to
read as follows:

211. The provisions of this Article shall not apply to the
shares of homestead or building associations incorporated
under the laws of this State, and the shares of such associa-
tions are hereby declared exempt from taxation to the extent
that such shares represent investments in cash, fixtures, loans
on hypothecated stock, judgments, decrees, mortgages on real
or leasehold estates and bonds of the United States and the
State of Maryland and all homestead or building associations
incorporated under the Laws of this State are hereby prohibited
from investing in any other manner than as aforesaid des-
cribed; provided, however, that nothing herein contained shall
be construed to prevent any such association from acquiring
real or leasehold property for use in whole or in part as an
office or place of business nor from acquiring real or leasehold
property under the foreclosure of any mortgage held by it or
by purchase directly from the owner of the equity of redemp-
tion when deemed necessary by it to protect its mortgage inter-
est in said property. From and after Jaunary 1st, 1923, no
homestead or building association incorporated under the Laws
of this State shall be required to file any statement or report
with the State Tax Commission of Maryland.

SEC. 2. And be it enacted, That the provisions of this Act
shall become effective January 1, 1923.

Approved April 13th, 1922.

CHAPTER 324.

AN ACT to revive the charter of THE SOUTHERN
REALTY COMPANY, a Maryland corporation, and to
enable it to continue business as a corporation under the
laws of the State of Maryland, upon payment of its
Franchise Tax and other taxes due by said corporation
to the State of Maryland.

WHEREAS The Southern Realty Company, a company or-
ganized and doing business under the laws of the State of
Maryland, did through misapprehension, neglect to make pay-
ment of its Franchise Tax due the State of Maryland for the
year 1917; and,