586                             LAWS OF MARYLAND                      [CH. 364

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1963.

Approved April 17, 1963.

CHAPTER 363

(Senate Bill 251)

AN ACT to repeal and re-enact, with amendments, Section 1 of
Article 49A of the Annotated Code of Maryland (1957 Edition),
title "Investments", providing that free share accounts of home-
stead or building associations the value of which is insured by the
Maryland Savings-Share Insurance Corporation shall be lawful
investments for fiduciary and public monies.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 1 of Article 49A of the Annotated Code of Maryland
(1957 Edition), title "Investments", be and it is hereby repealed and
re-enacted, with amendments, to read as follows:

1. Bonds issued by the Federal Farm Loan Board, or by any
federal land bank or any joint stock land bank, or the Federal Home
Loan Bank Board, or the Home Owners Loan Corporation, (a cor-
poration created by an act of Congress of the United States, approved
June 13, 1933), mortgages or bonds or notes secured by mortgage or
trust deed insured by the Federal Housing Administrator, debentures
issued by such Administrator, and obligations of national mortgage
associations, or shares, free share accounts, certificates of deposit
and investment certificates of homestead or building associations,
either state chartered or chartered under the laws of the United
States of America, the withdrawal or repurchase value of which
are insured by the Federal Savings and Loan Insurance Corporation,
pursuant to the provisions of the act of Congress of the United States
approved the twenty-seventh day of June, 1934, its supplements and
amendments, or are insured by the Maryland Savings-Share In-
surance Corporation, pursuant to Sections 161 MM to 161 XX, in-
clusive, of Article 23 of the Annotated Code of Maryland (1957
Edition, as amended), shall be lawful investments for savings bank
deposits, for all fiduciary, guardianship and trust funds, for the funds
of trust, bonding and insurance companies, building and loan asso-
ciations, savings and loan associations, and for the Workmen's Com-
pensation Fund, or other public monies subject to investment, in
this State.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1963.

Approved April 17, 1963.

CHAPTER 364

(Senate Bill 333)

AN ACT to repeal and re-enact, with amendments, Section 219 (f) of
Article 66C of the Annotated Code of Maryland (1957 Edition),