HERBERT R. O'CONOR, GOVERNOR. 1169
CHAPTER 583.
(House Bill 479)

AN ACT to repeal and re-enact, with amendments, Sections 1
and 2 of Article 49A of the Code of Public General Laws of
Maryland (1935 Supplement), title "Investments", author-
izing investments in shares, certificates of deposit and in-
vestment certificates of insured Homestead or Building
Associations.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Sections 1 and 2 of Article 49A of the Code of
Public General Laws of Maryland (1935 Supplement), title
"Investments", be, and the same are hereby repealed and re-
enacted, with amendments, so as to read as follows:

1. Bonds issued by the Federal Farm Loan Board, or by any
Federal Land Bank or any Joint Stock Land Bank, or the
Federal Home Loan Bank Board or the Home Owners Loan
Corporation (a corporation created by an Act of the Congress
of the United States, approved June 13th, 1933) or shares, cer-
tificates of deposit and investment certificates of Homestead
or Building Associations, either State Chartered or Chartered
under the Laws of the United States of America, the with-
drawal or repurchase value of which are insured by the Fed-
eral Savings and Loan Insurance Corporation, pursuant to the
provisions of the Act of Congress of the United States ap-
proved the Twenty-seventh day of June, 1934, its supplements
and amendments, shall be lawful investments for savings bank
deposits, for all fiduciary, guardianship and trust funds,
for the funds of trust, bonding and insurance companies,
building and loan associations, savings and loan associations,
and for the workmen's compensation fund, or other public
monies subject to investment, in this State.

2. Said bonds, shares, certificates of deposit and investment
certificates shall be accepted as security for all public deposits
and shall be legal investments for the sinking fund of the
State of Maryland on the same terms as any bonds for which
the faith of the United States is pledged.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1st, 1939.

Approved May 31, 1939