198 LAWS OF MARYLAND. [CH. 56

Grove Association; two by the members of the Gaithers-
burg-Washington Grove Fire Department, Inc., from its
active membership, and one shall be selected by the six
members appointed as herein provided from outside the
Sanitary Zone but a taxpayer of the Ninth District.

SEC. 3. And be it further enacted, That this Act shall
take effect June 1, 1934.

Approved December 15, 1933.

CHAPTER 56.

AN ACT to add a new section to Article 4 of the Code of
Public Local Laws of Maryland (1930 Edition), entitled
"Baltimore City, " sub-title "Mortgages, " said new sec-
tion to be known as Section 720A and to follow immedi-
ately after Section 720 of said Article, relating to secur-
ing decrees under mortgages containing an assent to
such decrees for a foreclosure sale.

WHEREAS, Under the aforesaid Section 720, as the same
has been construed by the Court of Appeals of Maryland,
a holder of a fractional interest, no matter how small, in
a debt secured by a mortgage, may now secure a decree
under the assent to such decree contained in such mortgage,
and upon any default in such mortgage, the trustee named
in said decree may foreclose the same, even though such
foreclosure be against the wishes of the holders of the re-
mainder of said debt secured by said mortgage; and

WHEREAS, By reason of the prolonged business depres-
sion, there has been an abnormal deflation of real and lease-
hold property values in Baltimore City, and any precipitate
foreclosure would affect seriously the investment in such
mortgage, perhaps injuring irrevocably the safety of the
investment; and

WHEREAS, By reason of the aforegoing and other adverse
conditions, an emergency is hereby declared to exist as a
matter of Legislative determination, necessitating Legis-
lative intervention by the enactment of the provisions here-
inafter prescribed, and their application during such em-
ergency; now therefore,