J. MILLARD TAWES, GOVERNOR                               107

CHAPTER 117
(Senate Bill 88)

AN ACT to repeal and re-enact, with amendments, Section 190 of
Article 11 of the Annotated Code of Maryland (1957 Edition),
title "Banks and Trust Companies", sub-title "Industrial Finance
Companies", changing the time for filing annual reports with the
Bank Commissioner of Maryland, by licensees under the Indus-
trial Finance Companies Law.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 190 of Article 11 of the Annotated Code of Maryland
(1957 Edition), title "Banks and Trust Companies", sub-title "In-
dustrial Finance Companies", be and it is hereby repealed and re-
enacted, with amendments, to read as follows:

190.

Each licensee shall annually between the first [day of March and
the first day] and thirtieth days of April, file a report with the Com-
missioner giving such relevant information as he may reasonably
require concerning the business and operations during the preced-
ing calendar year for each licensed place of business conducted by
such licensee within the State pursuant to the provisions of this sub-
title. Such report shall be made under oath and shall be in the form
prescribed by the Commissioner, who shall make and publish an-
nually a consolidated analysis and recapitulation of such reports.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1961.

Approved March 23, 1961.

CHAPTER 118
(Senate Bill 89)

AN ACT to repeal and re-enact, with amendments, Section 40 (e) of
Article 11 of the Annotated Code of Maryland (1957 Edition),
title "Banks and Trust Companies", sub-title "Savings Institu-
tions", relating to the diminishing of the minimum guarantee fund
of savings institutions to make the same consistent with previous
enactments of the General Assembly.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 40 (e) of Article 11 of the Annotated Code of Maryland
(1957 Edition), title "Banks and Trust Companies", sub-title "Sav-
ings Institutions", be and the same is hereby repealed and re-enacted,
with amendments, to read as follows:

(e) Diminishing minimum guarantee fund.—No savings institu-
tion shall diminish the minimum guarantee fund and the addition
thereto required by this section to be set aside except that it may
from time to time, with the approval of the Bank Commissioner,
reduce said minimum guarantee fund by such amount to be deter-