J. MILLARD TAWES, Governor                        95

ment), title "Corporations", sub-title "Maryland Sayings-Share
Insurance Corporation," correcting an error in the section concern-
ing definitions for the Maryland Savings-Share Insurance Corpor-
ation Law.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 161WW of Article 23 of the Annotated Code of Mary-
land (1962 Supplement), title "Corporations", sub-title "Maryland
Savings-Share Insurance Corporation", be and it is hereby repealed
and re-enacted, with amendments, to read as follows:

161WW.

As used herein, the following words have the meanings indicated
unless the context clearly requires a different meaning:

(1)   "Corporation" means the Maryland Savings-Share Insurance
Corporation, created hereby.

(2)   "Supervisor" means the Director of the State Department of
Assessments and Taxation, as provided in Section 160F of this
article, or [its] it means the Director of the Department of Building,
Savings and Loan Associations, as provided in Section 161G of this
article, depending upon which section is effective.

(3)   "Directors" means the board of directors of the Maryland
Savings-Share Insurance Corporation.

(4)   "Association" means any building, savings and loan or home-
stead association organized under the laws of this State, Federal
Savings and Loan Association Incorporated pursuant to the act of
the Congress of the United States, approved the 13th day of June,
1933, entitled the "Home Owners' Loan Act of 1933", with amend-
ments, and foreign savings and loan associations duly authorized to
do business in this State, and further, each such federal or foreign
association shall be required to have its principal offices in this State
and 75% of its total assets invested in accordance with the provisions
of Section 150, and Sections 160Z and 161Z of this article, as
amended from time to time, depending upon which section is effec-
tive.

(5)   An "insured institution", as referred to in Section 161-00 (g)
hereof, is an association whose accounts are insured by the Federal
Savings and Loan Insurance Corporation.

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

Approved March 14, 1963.

CHAPTER 60
(Senate Bill 69)

AN ACT to repeal and re-enact, with amendments, Section 713 (1)
(1) of Article 66C of the Annotated Code of Maryland (1962 Sup-
plement), title "Natural Resources", sub-title "Oysters and
Clams", correcting errors in the Law relating to inspection tax on
soft shell clams.