THEODORE R. MCKELDIN, GOVERNOR 251

same, or to invest said monies in any bank or banks in the
State of Maryland in an interest-bearing time deposit
and/or savings account. Such deposits shall only be made
where the bank has deposited a like amount of bonds in
escrow, as now prescribed by law, covering bank deposits.
The interest or income from any such investment shall be
and become a part of the fund from which the investment
was made and may itself be so invested, provided, however,
that where the fund so invested constitutes the proceeds
of the issue of bonds or other obligations, the principal of
and/or interest on which the issuer is obligated to repay
to the holders thereof, the interest or income from such
investments may be used to pay the principal and/or
interest on the same by the issuer. Investments made pur-
suant to this section may be retained until such time as
the investor shall decide otherwise.

All such investments made prior to March 2, 1943, are
hereby legalized, validated, ratified and confirmed, not-
withstanding the absence of statutory authority therefor
or any inconsistent provision of law.

SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1954.

Approved April 2, 1954.

CHAPTER 75
(House Bill 13)

AN ACT to add a new sub section TWO NEW SUB-SEC-
TIONS to Section 92 of Article 66 1/2 of the Annotated
Code of Maryland (1951 Edition), title "Motor Vehicles",
sub-title "Administration—Registration—Titling", said
new sub section SUB-SECTIONS to be known as Sub-
section (d) SUB-SECTIONS (D) AND (E) and to fol-
low immediately after Sub-section (c) thereof, requiring
that on and after June 1, 1954, any person under twenty-
one (21) years of age must furnish proof of financial
responsibility when obtaining an operator's or chauffeur's
license

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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.