584                         LAWS OF MARYLAND.                  [CH. 212

CHAPTER 212.

AN ACT to repeal and re-enact, with amendments, Section 27
of Article 81 of the 1929 Supplement to the Annotated
Code of the Public General Laws of Maryland, entitled
"Revenue and Taxes, " sub-title "Rate of Tax, " so as to
make the shares of domestic title insurance companies sub-
ject to the same rates of taxation as those heretofore apply-
ing to domestic, casualty, surety, guaranty or fidelity com-
panies, and providing that this Act shall apply to assess-
ments for the year 1931 and subsequent years.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 27 of Article 81 of the 1929 Supple-
ment to the Annotated Code of the Public General Laws of
Maryland, entitled "Revenue and Taxes, " sub-title "Rate of
Tax, " be and the same is hereby repealed and re-enacted, with
amendments, so as to read as follows:

27. (a) Except as hereinafter in this section provided and
as provided in Section 9, all property subject to ordinary taxa-
tion in this State shall pay the full county and/or city rate
prevailing for the time being in the county and/or city in
which under this Article the same is taxable; provided that
nothing in this Article contained shall affect any special rates
prevailing under existing local laws in any taxing district or
part of any county or city, or upon any class or classes of prop-
erty in any taxing district, or part of any county or city.

(b)   Intangible personal property subject to taxation under
Section 6 (3), 6 (4) and 6 (5) shall be assessed at the actual
value in the market; and upon such valuation shall be paid
the regular rate of taxation for State purposes, but in no event
more than the rate of fifteen (15) cents on each one hundred
dollars of such valuation, and the rate of thirty (30) cents
and no more on each one hundred dollars of such valuation for
county and/or city taxation.

(c)     Shares of stock of every bank, state or national, and
trust company located and doing business in this State, valued
and assessed as provided in Section 15 of this Article shall pay
the regular rate of taxation for State purposes and one dollar
($1. 00) and no more on each one hundred dollars of such
valuation for county and/or city taxation.

(d)    Shares of stock of every domestic casualty, surety,
guaranty or fidelity company, fire, marine or title insur-