302 LAWS OF MARYLAND. [CH. 110

State Treasurer of their or its desire to be relieved from
further liability as such surety, as provided in the pre-
ceding section of this article, or when any new bond shall
be given by any bank or trust company, that may be used
as a depository for the funds of the State by the State
Treasurer, it shall be lawful for the State Treasurer to re-
ceive from such bank or trust company, its bond, condi-
tioned, as provided by law, and, as surety collateral to the
said bond, instead of the surety heretofore provided by
law, 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
by an Act of the Congress of the United States, approved
June 13, 1933, which shall be approved by the State Treas-
urer to the amount, in value, of the penalty of the bond,
and said amount shall be at all times maintained by said
bank or trust company; 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 to secure the performance of
the conditions of the said bond. Any such bank or trust
company that may heretofore have given the bond, as
heretofore provided by law, may at any time secure the
cancellation of said bond and the substitution of a bond
with such securities as are hereinbefore provided for, and
any such bank or trust company may at any time, with-
draw from the State Treasurer such collateral securities
with the bond to which the securities are attached and file,
in lieu thereof, such bonds as have heretofore been ac-
cepted by the State Treasurer; provided that no substitu-
tion of a bond with collateral or a bond with other securi-
ties for a bond with collateral shall be made oftener than
once in each twelve months.

SEC. 2. And be it further enacted, That this Act is
hereby declared to be an emergency law and 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.