HERBERT R. O'CONOR, GOVERNOR. 961

cent, of such portion thereof as is allocable to this State
under the provisions of Section 253 hereof; provided, how-
ever, that (1) national and State banks and trust companies,
(2) mutual savings institutions, (3) federal and domestic mu-
tual building and loan associations, (4) insurance companies
as defined in Section 101 of this Article, and (5) religious, edu-
cational, charitable, social, fraternal and other similar cor-
porations not organized or conducted for profit, no part of
the net earnings of which inure to the benefit of any private
shareholder or individual but not including corporations
organized for the exclusive purpose of holding title to prop-
erty and collecting income therefrom unless the entire amount
of such income less related expenses is turned over to a cor-
poration or organization which itself is exempt from the tax
imposed by this sub-title, and (6) farmer's or other mutual
hail, cyclone or fire insurance companies or associations, the
income of which is used or held for the purpose of paying
losses or expenses shall not be liable for said tax.

SEC. 2. And be it further enacted, That this Act is hereby
declared to be an emergency law and necessary for the imme-
diate preservation of the public health and safety and having
been passed upon by yea and nay vote, supported by three-
fifths of all the members elected to each of the two Houses of
the General Assembly of Maryland, the same shall take effect
from the date of its passage.

Approved April 27, 1945.

CHAPTER 796.
(Senate Bill 81)

AN ACT to repeal and re-enact, with amendments, Section 235
of Article 81 of the Annotated Code of Maryland (1943 Sup-
plement), title "Revenue and Taxes", sub-title "Income
Tax", defining corporations and associations which shall file
returns hereunder.

SECTION 1. Be it enacted by the General Assembly of Mary-
land? That Section 235 of Article 81 of the Annotated Code of
Maryland (1943 Supplement), title "Revenue and Taxes", sub-
title "Income Tax", be and it is hereby repealed and re-enacted,
with amendments, to read as follows:

235. (Corporations and Associations Which Shall File Re-
turns. ) Every corporation and every association (domestic
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