330                               LAWS OF MARYLAND                        [CH. 235

ditions, as to taxes, fines, penalties, licenses, fees and deposits, as
may be required of a Maryland Association in order to transact busi-
ness in the State, Territory or District of Columbia in which such
association, making application to do business in Maryland, is in-
corporated or has its principal place of business; and when so ad-
mitted shall conduct such business in accordance with the laws gov-
erning domestic associations. Whenever any deposit of money, securi-
ties or mortgages is required by such foreign jurisdiction, such de-
posit shall be made with the Treasurer of Maryland and shall be held
to satisfy the claims of residents of Maryland; and such taxes, appli-
cation fees, license fees or renewal fees as may be required by such
foreign jurisdictions shall be paid to the State Tax Commission of
Maryland, which, after receiving such papers, including a power
of attorney establishing a resident agent, as may be required by such
foreign jurisdiction, and being satisfied that any deposit required by
such foreign jurisdiction has been made, is authorized to license such
foreign association to do business in the State of Maryland, and to
renew such license from year to year, or from time to time, as may
be required of a Maryland association seeking to do business in such
foreign jurisdiction. Any amendment to any law in force at the
effective date of this Act relating to building and loan associations
by a foreign jurisdiction affecting the right, or changing the taxes,
fees or penalties required of a Maryland association, to do business in
such foreign jurisdiction shall be immediately applied to any associa-
tion of such foreign jurisdiction authorized to do business in Mary-
land. In the event the State of Maryland creates any board, com-
mission or bureau to supervise or regulate domestic associations, the
duties herein delegated to the State Tax Commission shall be assumed
by such board, commission or bureau and such act or acts shall apply,
so far as applicable, to foreign associations authorized to do business
in Maryland. Provided that no foreign building, loan or homestead
association, or any such association which maintains its principal
office outside the State of Maryland, shall hereafter open for business,
nor maintain any branch office or offices within the State of Mary-
land, except such as may be open before June 1, 1955r , BUT PRO-
VIDED FURTHER THAT ANY BRANCH OFFICE OR OFFICES
OPEN ON MARCH 1, 1955, MAY THEREAFTER BE MOVED
TO A NEW LOCATION WITHIN THE SAME COUNTY AND
WITHIN A RADIUS OF ONE MILE OF THE LOCATION OF
SUCH BRANCH OFFICE OR OFFICES

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SEC. 2. And be it further enacted, That this Act shall take effect
June 1, 1955.
Approved April 1, 1955.

CHAPTER 235
(House Bill 300)

AN ACT to repeal Chapter 256 of the Acts of 1947 and to repeal
Section 603 of the code of Public Local Laws of Anne Arundel

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.