280 LAWS OF MARYLAND. [CH. 162

exceed two per cent for the payments thereof before the due
date.

SEC. 2. And be it further enacted, That this Act shall take
effect June 1, 1949.

Approved March 31, 1949.

CHAPTER 162
(House Bill 234)

AN ACT to repeal and re-enact, with amendments, Section 15
of Article 47 of the Annotated Code of Maryland (1939
Edition), title "Insolvents", providing that wages due em-
ployees of an insolvent shall be preferred to taxes.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 15 of Article 47 of the Annotated Code of
Maryland (1939 Edition), title "Insolvents", be and it is
hereby repealed and re-enacted, with amendments, to read as
follows:

15. Whenever any person or body corporate shall make an
assignment for the benefit of his, her or its creditors, or shall
be adjudicated insolvent upon his, her or its petition, or upon
the petition of any creditor or creditors, or shall have his,
her or its property or estate taken possession of by a receiver
under a decree of a court of equity, in the distribution of the
property or estate of such person or body corporate, all the
money due and owing from such person or body corporate for
wages, salaries or commissions to clerks, servants, salesmen
or employees contracted not more than three months anterior
to the execution of such assignment, adjudication of in-
solvency, or appointment of receiver, shall first be paid in
full out of such property or estate, after payment of the
proper and legitimate costs, expenses and commissions,
and shall be preferred to all claims against the property
and estate of such insolvent person or body corporate, except
the lien claims of such persons as shall hold liens upon such
property or estate, recorded at least three months prior to
such assignment, adjudication or decree. Taxes legally due
and owing shall have priority of payment to general creditors.

SEC. 2. And be it -further enacted, That this Act shall take
effect June 1, 1949.

Approved March 31, 1949.