ALBERT C. RITCHIE, GOVERNOR. 299

months from the 2nd of April, 1896, and from time to time
thereafter, if need be, transfer and assign to the said
treasurer registered public stock of the United States or of
the State of Maryland, or of Baltimore City, or the bonds
of any county or municipal corporation of this State, or of
the Home Owners Loan Corporation, a corporation created
under an Act of the Congress of the United States ap-
proved June 13, 1933, which shall be approved by said
treasurer to the amount in value of one hundred thousand
dollars, and said amount shall be at all times maintained
by said corporation, which stock must be registered in the
name of said treasurer, officially, as held in trust under and
pursuant to this section, and the same shall be held by said
treasurer in trust as security for all the holders of policies
or guarantees of said corporation; provided, however, that
no such corporation incorporated under any law of any
other State, district or territory, the United States or any
foreign country, shall be required to make the deposit as
above set forth with the Treasurer of this State if said
corporation shall have made with the Insurance Commis-
sioner, Treasurer or other proper officer of any State, dis-
trict or territory in the United States, a deposit in the
amount as above set forth of any securities as shall have
been approved by the proper officer where made, for the
benefit of all the holders of policies or guarantees of said
corporation, as above set forth, and a certificate thereof
under the hand and official seal of said proper officer shall
have been filed with said Treasurer.

SEC. 2. And be it further enacted, That this Act is
hereby declared to be an emergency law necessary for the
immediate 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 109.

AN ACT to repeal and re-enact, with amendments, Section
25 of Article 48A, of the Code of Public General Laws of
Maryland, Edition of 1924, title "Insurance", sub-title,
"General Provisions", authorizing the investment of
reserves in bonds of the Home Owners Loan Corporation.