454 LAWS OF MARYLAND. [CH. 273

tory or District of Columbia in which such association,
making application to do business in Maryland, is incor-
porated or has its principal place of business; and when
so admitted shall conduct such business in accordance with
the laws governing domestic associations. Whenever any
deposit of money, securities or mortgages is required by
such foreign jurisdictions, such deposit shall be made with
the Treasurer of Maryland and shall be held to satisfy the
claims of residents of Maryland; and such taxes, applica-
tion fees, license fees or renewal fees as may be required
by such foreign jurisdictions shall be paid to the State Tax
Commission of Maryland, which, after receiving such
papers, including a power of attorney establishing a resi-
dent agent, as may be required by such foreign jurisdic-
tion, and being satisfied that any deposit required by such
foreign jurisdiction has been made, is authorized to license
such foreign association to do business in the State of
Maryland, and to renew such license from year to year, or
from time to time, as may be required of a Maryland asso-
ciation seeking to do business in such foreign jurisdiction.
Any amendment to any law in force at the effective date
of this Act relating to building and loan associations by a
foreign jurisdiction affecting the right, or changing the
taxes, fees or penalties required of a Maryland association,
to do business in such foreign jurisdiction shall be imme-
diately applied to any association of such foreign jurisdic-
tion authorized to do business in Maryland. In the event
the State of Maryland creates any board, commission or
bureau to supervise or regulate domestic associations, the
duties herein delegated to the State Tax Commission shall
be assumed by such board, commission or bureau and such
act or acts shall apply, so far as applicable, to foreign
associations authorized to do business in Maryland.

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

Approved May 3, 1939.

CHAPTER 273.
(Senate Bill 18)

AN ACT to repeal and re-enact, with amendments, Sub-
sections (3), (4) and (5) of Section. 194 of Article 56
of the Annotated Code of Maryland (1935 Supplement),
title "Licenses, " sub-title "Motor Vehicles, " sub-heading