THEODORE R. MCKELDIN, GOVERNOR 1675

tension or extensions not exceeding five years each, of the
period within which such real estate may be held, the value
thereof shall be ascertained as provided in sub-division (2) d
and if found to be equal to or in excess of the book value of
such real estate, then he shall grant an extension or exten-
sions not exceeding five years each, of the period in which
such real estate may be held. A company may, with the written
approval of the Insurance Commissioner, acquire property in
part payment of the consideration on the sale of real estate
owned by it if each such transaction shall effect a net reduc-
tion in the company's investment in real estate, and in addi-
tion may, with the written approval of the Insurance Com-
missioner, acquire other real estate if necessary or convenient
for the purpose of enhancing the sale value of real estate
previously acquired or held by it pursuant to the provisions of
this sub-paragraph. Real estate sold under contract of sale,
where title is retained in the company, shall be classified as
real estate.

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

Approved April 27, 1951.

CHAPTER 555
(House Bill 147)

AN ACT to repeal and re-enact, with amendments, Section
68 (b) of Article 99 of the Annotated Code of Maryland
(1947 Supplement), title "Birds, Game and Inland Water
Fish", sub-title "Raising Game in Captivity", relating to
permits to operate regulated pheasant shooting grounds.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Section 68 (b) of Article 99 of the Annotated Code
of Maryland (1947 Supplement), title "Birds, Game and In-
land Water Fish", sub-title "Raising Game in Captivity", be
and it is hereby repealed and re-enacted, with amendments,
to read as follows:

——————

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.