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THEODORE R. MCKELDIN, GOVERNOR 311
tions", sub-title "Building or Homestead Associations",
said new section to be known as Section 140A and to
follow immediately after Section 140 of said Article,
relating to certain monies placed with homestead or
building associations.
SECTION 1. Be it enacted by the General Assembly of Maryland,
That a new section be and it is hereby added to Article 23
of the Annotated Code of Maryland (1951 Edition), title
"Corporations", sub-title "Building or Homestead Asso-
ciations", said new section to be known as Section 140A, to
follow immediately after Section 140 of said Article, and
to read as follows:
140A. (a) Whenever any money shall be placed in a
homestead or building association by any person in trust
for any other, and no other or further notice of the exist-
ence and terms of a legal and valid trust shall have been
given to the building or homestead association, in the event
of the death of the trustee, the same or any part thereof
and any dividend due thereon may be paid to the person
for whom the said money was placed.
(b) When money has ben BEEN placed or shall here-
after be placed in any building or homestead association,
in the names of two persons, payable to either, or payable
to either or the survivor, such deposit SUM OF MONEY
or any part thereof, or dividend thereon, may be paid to
either of said persons, whether the other be living or not;
and the receipt or acquittance of the person so paid shall
be valid and sufficient release and discharge to the home-
stead or building association for any payment so made.
SEC. 2. And be it further enacted, That this Act shall
take effect June 1, 1953.
Approved March 31, 1953.
CHAPTER 158
(Senate Bill 118)
AN ACT to add a new section to Article 96 of the Anno-
tated Code of Maryland (1951 Edition), title "United
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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.
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