J. MILLARD TAWES, GOVERNOR                              223

the tax imposed by this section shall be reduced to the extent of such
additional franchise tax so paid to said foreign jurisdiction.

161-II. EXEMPTION FROM BLUE SKY LAW.

The sale of free share accounts of any association doing business
in this State is hereby exempted from all provisions of law of this
State which provide for the supervision and regulation of the sale
of securities, and the sale of a/ay such accounts shall be legal without
any action or approval whatsoever on the part of any official au-
thorized to license, regulate, and supervise the sale of securities.

161JJ. SEVERABILITY.

If any provision of this sub-title or the application thereof to any
person or circumstance is held invalid, such invalidity shall not
affect the other provisions or any other application of this sub-title
which can be given effect without the invalid provision or applica-
tion, and to this end, the provisions of this sub-title are declared to
be severable.

161KK. CONFORMITY.

Sections 161A through 16IKK of this Article shall be considered
as additions to all existing laws covering or affecting building, sav-
ings and loan or homestead associations, or associations using any
combination of these names, and shall replace and prevail over such
existing laws to the extent that the provisions of these Sections are
contradictory or inconsistent, but only to the extent of such con-
tradiction or inconsistency, and such existing laws, subject to the
above provisions, shall be and remain in full force and effect as if
these Sections had never been enacted.

SEC. 2. AND BE IT FURTHER ENACTED, THAT THIS ACT
SHALL TAKE EFFECT ON JULY JUNE 1, 1961.

Approved March 28, 1961.

CHAPTER 206                     

(Senate Bill 271)

AN ACT to repeal and re-enact, with amendments, Sections 159, 162
and 164 of Article 33 of the Annotated Code of Maryland (1957
Edition), title "Elections", sub-title "House of Representatives",
and to add a new Section 166A to said Article and sub-title, to fol-
low immediately after Section 166 thereof, creating a new eighth
congressional district in the State of Maryland, making changes in
certain other districts in conformity therewith, making provisions
for the application of this Act and relating generally to the several
congressional districts of the State of Maryland and the tenure of
the several Representatives from the State of Maryland.

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.