HERBERT R. O'CONOR, GOVERNOR. 127
CHAPTER 13. 1.
(House Bill 162)

AN ACT to repeal and re-enact, with amendments, Sub-section
(16) of Section 7 of Article 81 of the Annotated Code of
Maryland (1939 Edition), title "Revenue and Taxes", sub-
title "What Shall Be Taxed and Where", including certain
other investments in Maryland in the list of investments of
building and loan associations which are exempt from taxa-
tion.

SECTION 1. Be It enacted 'by the General Assembly of Mary-
land, That Sub-section (16) of Section 7 of Article 81 of the
Annotated Code of Maryland (1939 Edition), title "Revenue
and Taxes", sub-title "What Shall Be Taxed and Where", be
and it is hereby repealed and re-enacted, with amendments, to
read as follows:

7. (16) Shares of stock in domestic building and home-
stead associations to the extent that such shares represent in-
vestments in cash, fixtures, loans on hypothecated stock of such
association, judgments or decrees of Courts of this State, mort-
gages on real estate, situated in this State, ground rents is-
suing from property located in this State, stock of the Home
Loan Bank of Winston Salem, debentures of the Federal Hous-
ing Administration, and bonds of the Home Owners Loan Cor-
poration and of the United States and of the State of Mary-
land.

SEC. 2. And be it -further enacted, That this Act shall take
effect June 1, 1943.

Approved March 23, 1943.

CHAPTER 132.
(House Bill 163)

AN ACT to repeal arid re-enact, with amendments, Section
164 of Article 23 of the Annotated Code of Maryland (1939
Edition), title "Corporations", sub-title "Building or Home-
stead Associations", authorizing Building and Loan Asso-
ciations to invest in ground rents on property located in
this State.