J. MILLARD TAWES, GOVERNOR                            667

(4) In addition to any other limitation contained in this Article, no
licensed surety company shall at any one time be exposed to risks
on suretyship obligations guaranteeing the deposits of any single
financial institution in an aggregate net amount in excess of ten per
cent of the surplus to policyholders of such surety company,
determined as provided in subsection (a) (4), unless it shall be pro-
tected in excess of that amount by security in accordance with sub-
paragraphs (A), (B), (C), or (D) or subsection (b) (1).

(C) INSURANCE COMPANIES WHICH WERE LICENSED
AS OF JANUARY 1, 1961, TO ENGAGE IN THE INSURANCE
BUSINESS DESCRIBED IN SUB-SECTION (A) WHICH HAVE
ASSUMED ANY RISK OR RISKS IN EXCESS OF THE LIMITS
PRESCRIBED BY THIS SECTION SHALL HAVE 24 MONTHS
FROM THE EFFECTIVE DATE OF THIS ACT TO BRING SUCH
RISK OR RISKS INTO COMPLIANCE WITH THE PROVISIONS
OF THIS SECTION.

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

Approved April 24, 1961.

CHAPTER 483
(House Bill 115)

AN ACT to repeal and re-enact, with amendments, Section 9(32) of
Article 81 of the Annotated Code of Maryland (1960 Supplement),
title "Revenue and Taxes", sub-title "What Should SHALL be
Taxed and Where", so as to include Montgomery County CARO-
LINE, DORCHESTER AND MONTGOMERY MONTGOMERY,
PRINCE GEORGE'S AND WORCESTER COUNTIES among
the counties wherein house trailers are not exempted from the
assessment of local property taxes and to otherwise change the
extent of the exemption.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 9(32) of Article 81 of the Annotated Code of Maryland
(1960 Supplement), title "Revenue and Taxes", sub-title "What
Should SHALL be Taxed and Where", be and it is hereby repealed
and re-enacted, with amendments, to read as follows:

9(32). Motor Vehicles, Classes A to J; house trailers in certain
counties not exempt.—Motor vehicles, Classes A to J, inclusive.
Nothing herein shall be construed to exempt house trailers [designed]
used primarily for human habitation from the assessment of the
local property tax in Calvert County, Carroll County, Frederick
County, Harford County, Cecil County, Charles County, Garrett
County, Kent County, Montgomery County, and St. Mary's County,

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.