430 LAWS OF MARYLAND. [CH. 244

ceeds of such preferred stock and all other property of such
corporation shall be and continue to be subject to taxation
in the same manner and to the same extent as, but to no
greater extent than, it would be if all of the stock of such
corporation were subject to taxation and fully taxed, but the
preferred stock so issued shall not be subject to State or local
taxation; and in the event of the issuance hereafter of such
preferred stock, the aggregate value of all shares of stock of
such corporation as thereafter ascertained and determined
by the State Tax Commission shall not include or reflect the
value of such preferred stock so issued or any part thereof
and such aggregate value as so ascertained and determined
for subsequent years shall not exceed (1) the aggregate value
of all taxable shares of stock of such corporation as ascer-
tained and determined by the State Tax Commission for the
year preceding the first year in which any part of such pre-
ferred stock shall have been issued, or (2) the assessed value
of the real estate of such corporation plus all other amounts
which are deductible from the aggregate value of its taxable
shares, or (3) the market value of all taxable shares of stock
of such corporation theretofore or thereafter issued, which-
ever is the greater.

Approved April 5, 1927.

CHAPTER 244.

AN ACT to repeal and re-enact, with amendments, Section
58 of Article 33 of the Code of Public General Laws of
Maryland, Edition of 1924, title "Elections, " sub-title
"Nominations, " so as to change the time within which any
person nominated for public office may decline to accept such
nomination, and so as to prescribe the time within which per-
sons who file certificates of candidacy for nomination in a pri-
mary election may withdraw the same.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 58 of Article 33 of the Code of Public
General Laws, Edition of 1924, be, and the same is hereby
repealed and re-enacted, with amendments, so as to read as
follows: