HARRY W. NICE, GOVERNOR. 475

such reasonable rules and regulations as may be necessary
to enforce the payment thereof and to do all things neces-
sary to fully and completely carry out the purpose of this
Act in the management and control of said sewerage system
and sewerage disposal plants, and to provide in said ordi-
nance or ordinances for a fine or an imprisonment of any
person, firm or officers of any corporation violating such
rules and regulations.

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1935.

Approved May 17, 1935.

CHAPTER 232.

AN ACT to add a new section to Article 23 of the Code of
Public General Laws of Maryland, 1924 Edition, entitled
"Corporations, " sub-title "Building or Homestead Asso-
ciations, " said new section to follow immediately after
Section 171B, to be known as Section 171C, providing
the manner in which any building or homestead associa-
tion can convert into a Federal savings and loan asso-
ciation as provided for under the provisions of an act of
Congress approved the 13th day of June, 1933, known
as the "Home Owners Loan Act of 1933, " defining the
taxable status of the shares and assets of such associa-
tions, and declaring this act to be an emergency law
necessary for the immediate preservation of the public
safety and health.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That a new section be and the same is hereby
added to Article 23 of the Code of Public General Laws of
Maryland, entitled "Corporations, " sub-title "Building or
Homestead Associations, " said new section to follow im-
mediately after Section 171B, of said Article, to be known
as Section 171C, and to read as follows:

171C. Any building or homestead association and any
building and loan association, or savings and loan associa-
tion or company, or other home financing organization by
whatsoever name or style it may be designated, eligible
to become a member of the Federal Home Loan Bank sys-
tem, may convert itself into a Federal Savings and Loan