306                             LAWS OF MARYLAND                     [CH. 283

(6)    In chattels and equipment necessary to conduct its business.

(7)    By making loans to members of cooperative housing projects
secured by the assignment of their interest or equity in a unit of
such project, notwithstanding the fact that such project as a whole
may be subject to a prior lien, and notwithstanding any other pro-
visions of Sections 161A to 161KK of this article.

(8)    With banks insured by the Federal Deposit Insurance Cor-
poration or with banks chartered by the State of Maryland which are
approved AS DEPOSITARIES by the Director with the advice and
consent of the Board of Building, Savings and Loan Association Com-
missioners, and which have been actively engaged in the banking
business for a period of at least ten (10) years and have a paid in
capital of at least five million dollars ($5,000,000.00).

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1965.

Approved April 8, 1965.

CHAPTER 283
(House Bill 658)

AN ACT to repeal and re-enact, with amendments, Section 24 of
Article 25 of the Annotated Code of Maryland (1964 Supplement),
title "County Commissioners," subtitle "General Provisions," to
require the County Commissioners of Harford County to publish
annually a summarized statement of receipts and expenditures of
the county and to furnish on request an itemized statement of
receipts and expenditures.

Section 1. Be it enacted by the General Assembly of Maryland,

That Section 24 of Article 25 of the Annotated Code of Maryland
(1964 Supplement), title "County Commissioners," subtitle "General
Provisions," be and it is hereby repealed and re-enacted, with amend-
ments, to read as follows:

24.

They shall make out and publish annually in at least two newspapers
published in their respective counties if there be two, a detailed,
minute and accurate statement of the expenses of their said counties,
specifying therein each particular time of expense, and for what and
to whom paid, and shall also deliver to the sheriff of their respective
counties as many copies of such statement as there are election dis-
tricts in the county, at least ten days before each general election;
and the sheriff shall within six days after the receipt of such copies
set up one of them at the place of holding elections in each election
district; and the clerk of the county commissioners and the sheriff
who shall fail to perform the duty imposed by this section shall each
forfeit the sum of one hundred dollars. Provided that the County
Commissioners of St. Mary's County shall not expend more than
twelve hundred dollars ($1,200) in any one year for publishing the
notices required by this section, and the publication of the notices of
the supervisor of elections relative to elections, registration, etc.
Provided that in St. Mary's and Frederick counties it shall not be