220                              Laws of Maryland                       [Ch. 205

(b)  Title to and location of property. Title to all real estate shall
be taken and held in the name of the association. The real or lease-
hold property securing any mortgage authorized by Section 150 of
this Article shall be situate in this State or within a fifty (50) mile
radius of the principal Maryland office of the association.

(c)  Second mortgages. Any mortgage held by an association shall
be a first lien upon such real or leasehold property except that such
mortgage may be a second lien if the first lien on said property is
held by the association.

161AA. PROMOTIONAL ACTIVITIES PROHIBITED.

After the effective date of this Section, an association shall not
give for the opening of, maintaining of, or increasing the amount of,
any account, any give-away that has a monetary value in excess

of two dollars and fifty cents ($2.50), provided, however, that the

Board shall have full power and authority to change this amount by

appropriate regulation. The monetary value of any give away so
OF AN AMOUNT TO BE ESTABLISHED BY THE BOARD BY
APPROPRIATE REGULATION. THE BOARD SHALL HAVE
FULL POWER AND AUTHORITY FROM TIME TO TIME TO
TO CHANGE THIS AMOUNT. THE MONETARY VALUE OF
ANY GIVE-AWAY SO given shall be the cost thereof to the associa-
tion and the association shall keep in its records for a period of at least
six (6) years suitable evidence of such cost. If the give-away is pur-
chased or obtained by the association together with, in connection
with, or at the same time as another item or other items from the same
supplier, not identical therewith, such value shall be deemed to be the
then current regular selling price or charge of the supplier on separate
sales or disposition thereof in the quantity included, and the associa-
tion shall in such case obtain, and keep in its records for a period of at
least six (6) years, a signed statement by such supplier of such
regular selling price or charge. As used in the foregoing provisions
of this Section, the term "give" means to give, to sell or dispose of
for less than full monetary value as hereinbefore defined, or with
any agreement or undertaking, contingent or otherwise, for repur-
chase or redemption, whether total or partial, or to offer, promise,
or agree to do any of the foregoing. The term "give-away" means
any money, property, service, or other thing of value, whether tang-
ible or intangible. The term "account" means free share account
of an association of whatsoever class or designation, accounts, share
account, investment certificate, share subscription, and credit to the
account of the maker thereof other than credit on account of a loan
by the association.

161BB. REVIVAL OF CHARTER.

The charter of any association heretofore or hereafter forfeited
for non-payment of taxes, or failure to file an annual report with the
State Department of Assessments and Taxation, may, at any time,
be revived as set forth in Section 85 of this Article, provided that
the articles of revival shall first be approved by the Director under
such terms and conditions as may be prescribed by regulations of
the Board. Any association aggrieved by the action of the Director
in declining to approve such articles or in conditioning his approval
thereof may appeal from such action in accordance with the appeal
provisions of Section 161H relating to orders.