1090 LAWS OF MARYLAND [CH. 361

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1951.

Approved April 13, 1951.

CHAPTER 361
(House Bill 152)

AN ACT to repeal and re-enact, with amendments, Section 160
of Article 23 of the Annotated Code of Maryland (1939
Edition), title "Corporations, " sub-title "Building and
Homestead Associations, " providing that building or home-
stead associations shall have power to increase their capital
stock which shall be without limitation as to amount and
simplifying the provisions of said section.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 160 of Article 23 of the Annotated Code of
Maryland (1939 Edition), title "Corporations, " sub-title
"Building and Homestead Associations, " be and it is hereby
repealed and re-enacted, with amendments, to read as follows:

160. [Any homestead or¹ building association, formed under
the provisions of this Article, shall have power, in its certifi-
cate of incorporation or its by-laws, to limit the number of
shares which each stockholder may be allowed to hold; to
prescribe the entrance fee to be paid by each stockholder at
the time of subscribing; and to regulate the instalments to be
paid on each share; provided, the same shall not exceed the
sum of one dollar per share per week; and the times at which
the same shall be payable. ]

(a). Any homestead or building association formed under
this Article shall state in its Certificate of Incorporation the
par value of its shares, and any such Association heretofore or

hereafter formed shall have power to increase its capital,

which shall be unlimited, notwithstanding any limitation im-
posed by the existing charter of such Association. HERE-
AFTER FORMED SHALL HAVE POWER TO ACCEPT
SUBSCRIPTIONS TO AND PAYMENTS ON ACCOUNT OF
ANY NUMBER OF SHARES WITHOUT LIMIT AND

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EXPLANATION: Italics indicate new matter added to existing law.

[Brackets] indicate matter stricken from existing law.
CAPITALS indicate amendments to bill.
Strike out indicates matter stricken out of bill.