34 LAWS OF MARYLAND [CH. 19

(1957 Edition and 1959 Supplement), title "Alcoholic Beverages",
sub-title "Taxation", be and it is hereby repealed; and that a new
Section 131 be and it is hereby enacted in lieu thereof, to stand in
the place of the section so repealed, and to read as follows:

131. WHAT BEVERAGES TAXABLE.

(a) BEVERAGES SOLD OR DELIVERED IN THIS STATE. —
All alcoholic beverages found within this State shall be deemed
to have been sold or delivered in this State and subject to the excise
tax imposed by this sub-title, unless it shall be proved, to the satisfac-
tion of the Comptroller that such alcoholic beverages have not been
sold or delivered in this State or unless exempt from said tax as
otherwise provided by this article.

(b) BEVERAGES OBTAINED UNDER NON-BEVERAGE
PERMIT OR FOR USE ON AIRPLANES AND SHIPS. —No tax
shall be payable with respect to alcohol or alcoholic beverages ob-
tained under a non-beverage permit, or obtained for use on airplanes
and ships, as provided in Section 4 (e) of this article.

SEC. 2. And be it further enacted, That this Act shall take effect
June 1, 1960.

Approved March 2, 1960.

CHAPTER 19

(Senate Bill 40)

AN ACT to repeal and re-enact, with amendments, Sections 412, 415
(h), 421 and 425 (a) of Article 23 of the Annotated Code of Mary-
land '(1959 Supplement), title "Corporations", sub-title "Develop-
ment Credit Corporation", amending the laws concerning the De-
velopment Credit Corporation with particular respect to the time
it commences business, the issue of capital stock of the corporation
and the setting apart of earned surplus, and relating generally to
the Development Credit Corporation.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Sections 412, 415 (h), 421 and 425 (a) of Article 23 of the
Annotated Code of Maryland (1959 Supplement), title "Corpora-
tions", sub-title "Development Credit Corporation", be and they are
hereby repealed and re-enacted, with amendments, to read as follows:

412. Establishment.

There is hereby created a corporation which shall be known as the
"Development Credit Corporation of Maryland. " Except as other-
wise provided in this sub-title, such corporation shall be possessed

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.