212 LAWS OF MARYLAND. [CH. 62

2. Said Bonds shall be accepted as security for all public
deposits and shall be legal investments for the sinking fund
of the State of Maryland on the same terms as any bonds
for which the faith of the United States is pledged.

SEC. 2. And be it further enacted, That a new section
be, and the same is hereby added to said Article, to follow
immediately after Section 2, to be known as Section 3, and
to read as follows:

3. Any such savings bank, fiduciary, trust company, in-
surance company, building and loan association or savings
and loan association, whether in liquidation (voluntary or
involuntary) or not, that shall hold any mortgage or other
lien on real or leasehold property, may at any time ex-
change, prior or subsequent to maturity, such mortgage or
other lien and any rights in respect thereto for any of the
bonds mentioned in Section 1 of this Article and may hold
such bonds or any of them as authorized and lawful in-
vestments for any and all purposes, notwithstanding the
provisions of any general or special law of this State in-
consistent with the provisions of this section.

SEC. 3. And be it further enacted, That this Act is here-
by declared to be an emergency law necessary for the im-
mediate preservation of the public health and safety, and
being passed upon a yea and nay vote supported by three-
fifths of all the members elected to each of the two Houses
of the General Assembly, the same shall take effect from
the date of its passage.

Approved December 15, 1933.

CHAPTER 62.

AN ACT to repeal and re-enact, with amendments, Section
165 of Article 23 of the Code of Public General Laws of
Maryland, Edition of 1924, title "Corporations, " sub-
title "Building and Homestead Associations, " as the
same was repealed and re-enacted by Chapter 26 of the
Acts of the General Assembly of 1933, (Regular Ses-
sion), authorizing building and homestead associations
to invest funds into bonds of the Home Owners Loan
Corporation.