J. MILLARD TAWES, Governor 363

424, and 425 (a) of Article 23 of the Annotated Code of Maryland
(1961 Supplement) title "Corporations"., sub-title "Development
Credit Corporation, " and to repeal Section 416 (e) thereof, amend-
ing the laws concerning the Development Credit Corporation with
particular reference to the division of the State into economic
regions, the Directors of the Corporation, the formula for loan
limits and policies as to loans and investments and relating gen-
erally to the laws concerning the Development Credit Corporation.

SECTION 1. Be it enacted by the General Assembly of Maryland,
That Sections 413, 414 (b), 415 (b), 416 (a), 417 (c), 419 (c), 420
(a), 420 (b), 422, 424, and 425 (a) of Article 23 of the Annotated
Code of Maryland (1961 Supplement), title "Corporations, " sub-
title "Development Credit Corporation, " be and they are hereby re-
pealed and re-enacted, with amendments, that Section 416 (e) there-
of be and it is hereby repealed, and all to read as follows:

413.

For the purposes of this sub-title, [the State is hereby divided into
five economic regions, as follows:

(1) Central region. The counties of Baltimore, Carroll, Harford,
and Howard.

(2) Eastern Shore region. The counties of Caroline, Cecil, Dor-
chester, Kent, Queen Anne's, Somerset, Talbot, Wicomico, and Wor-
cester.

(3) Southern region. The counties of Anne Arundel, Calvert,
Charles, Prince George's and St. Mary's.

(4) Western region. The counties of Allegany, Frederick, Gar-
rett, Montgomery, and Washington.

(5) Baltimore City region. The City of Baltimore. ] the board of
directors of the corporation may divide the State into not less than
five (5) economic regions.

414.

(b) In furtherance of the purpose set forth in sub-section (a) of
this section, and in addition to the powers conferred on stock corpo-
rations by general laws, such corporation, subject to the restrictions
and limitations contained in this sub-title, shall have the following
powers:

1. To borrow money and otherwise incur indebtedness for any of
its purposes; to issue its bonds, debentures, notes or other evidences
of indebtedness, whether secured or unsecured, therefor; and to
secure the same by mortgage, pledge, deed of trust or other lien on
its property, franchises, rights and privileges of every kind and
nature or any part thereof.

2. To lend money to, and to guarantee, endorse, or act as surety
on the bonds, notes, contracts, or other obligations of, or otherwise
assist financially, any person, firm, corporation or association; and
to establish and regulate the terms and conditions with respect to
any such loans or financial assistance and the charges for interest