HARRY W. NICE, GOVERNOR. 551
CHAPTER 281.

AN ACT to add fifteen new sections to Article 21 of the
Annotated Code of Maryland (1924 Edition), title "Con-
veyancing, " sub-title "Bills of Sale, " said new sections to
be known as Sections 54-A to 54-0, both inclusive, and to
follow immediately after Section 54 of said Article, per-
mitting Persons, Associations, Partnerships or Corpora-
tions of the State of Maryland to Borrow Funds from
Production Credit Associations or Banks for Coopera-
tives, Regional Agricultural Credit Corporations, The
Reconstruction Finance Corporation, or the Government
of the United States or any Department, Agency or Offi-
cer thereof, Federal Intermediate Credit Banks or any
Institution which has made Arrangements to discount
therewith or to procure Funds therefrom on the Security
of the obligation of the Borrower and providing a means
of securing said Loans on Chattels and Crops.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That fifteen new sections be and the same are
hereby added to Article 21 of the Annotated Code of Mary-
land (1924 Edition), title "Conveyancing, " sub-title "Bills
of Sale, " said new sections to be known as Sections 54-A to
54-0, both inclusive, to follow immediately after Section 54
of said Article and to read as follows:

54A. Chattel and Crop Mortgages: Eligible Mortgages:
Property which may be mortgaged: Lien in General: Any
person, association, partnership or corporation may enter
into an agreement with and borrow funds from a Produc-
tion Credit Association or a Bank for Cooperatives organ-
ized under the Farm Credit Act of 1933, a Regional Agricul-
tural Credit Corporation, the Reconstruction Finance Cor-
poration, or the Government of the United States or any
department, agency or officer thereof, a Federal Interme-
diate Credit Bank, or any Institution which has made ar-
rangements to discount therewith, or to procure funds
therefrom on the security of the obligations of the bor-
rower, and may secure the repayment of the funds so bor-
rowed, and/or any then existing or future indebtedness to
such institution, by chattel mortgage upon personal property
of any kind, character or description owned at the time of
the execution of the mortgage, or property of the same class
as is covered by the mortgage if acquired by the mortgagor
subsequent to the execution of the mortgage and prior to
its extinguishment, and/or upon any crop or crops, annual