THEODORE R. McKELDIN, GOVERNOR                  1151

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HOUSING COOPERATIVES

112. LEASES OR OTHER AGREEMENTS FOR PERPETUAL
USE AND OCCUPANCY OF PROPERTY LOCATED IN
CHARLES COUNTY, BY NON-PROFIT HOUSING COOPERA-
TIVE CORPORATIONS TO MEMBERS OF SUCH CORPORA-
TIONS, FOR RESIDENCE PURPOSES, SHALL BE EXEMPT
FROM THE PROVISIONS OF CHAPTER 485 OF THE ACTS OF
1884 OF THE GENERAL ASSEMBLY OF MARYLAND, AND
AMENDMENTS TO THE LAWS ENACTED THEREBY, PER-
TAINING TO REDEMPTION OF LEASES; AND ANY TERMS
OF SUCH LEASES OR OTHER AGREEMENTS REASONABLY
APPROPRIATE FOR THE ADMINISTRATION OF A PLAN OF
COOPERATIVE OWNERSHIP OF SUCH PROPERTY SHALL BE
VALID AND ENFORCEABLE REGARDLESS OF THE TERM
OR DURATION OF SUCH LEASE OR AGREEMENT. SUCH
LEASES OR OTHER AGREEMENTS PERTAINING TO PROP-
ERTY LOCATED IN CHARLES COUNTY, AS ABOVE DE-
SCRIBED, SHALL ALSO BE EXEMPT FROM THE PROVISIONS
OF SECTIONS 118 TO 124 OF ARTICLE 21 OF THE ANNO-
TATED CODE OF MARYLAND (1951 EDITION), UNDER THE
SUB-TITLE "LAND INSTALLMENT CONTRACTS".