674 LAWS OF MARYLAND. [CH. 304

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 7 of Article 48A of the Annotated
Code of Maryland (1935 Supplement), title "Insurance",
sub-title "Insurance Department", be and the same is
hereby repealed and re-enacted, with amendments, to read
as follows:

7. Actuary. The Commissioner shall also appoint an
Actuary for the Department, who shall receive an annual
compensation as fixed and provided by the budget, and the
fees provided by Section 40, to be paid by the companies
whose policies he shall value as required by law, provided,
however, that the total amount of salary and such fees
shall not exceed six thousand dollars ($6, 000. 00) in any
one year.

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

Approved May 17, 1939.

CHAPTER 304.
(Senate Bill 241)

AN ACT to repeal and re-enact, with amendments, Section
9B of Article 11 of the Annotated Code of Maryland,
(1935 Supplement), title "Banks and Trust Companies",
sub-title "Bank Commissioner".

SECTION 1. Be it enacted by the General Assembly of
Maryland, That Section 9B of Article 11 of the Annotated
Code of Maryland, (1935 Supplement), title "Banks and
Trust Companies", sub-title "Bank Commissioner", be and
the same is hereby repealed and re-enacted, with amend-
ments, to read as follows:

9B. The Bank Commissioner shall, within a reasonable
period after taking possession of any banking institution,
cause proper proceedings to be instituted in the name of
the State of Maryland against said institution in a court
of competent jurisdiction, for the purpose of having the
court assume jurisdiction over the property and business
of said institution, for liquidation, and the said Bank Com-
missioner shall, within six months after taking possession
of any banking institution, file in said Court a complete