344                              LAWS OF MARYLAND                      [CH. 146

transact any business other than such as relates to its organization.]
At least a majority of the capital stock of such corporation shall at
all times be held by residents of the State or by persons, firms or
corporations engaged in doing business therein.

426. State credit and State officials.

[Under no circumstances is the faith or credit of the State of
Maryland pledged herein.] In furtherance of the purposes set forth
in subsection (a) of Section 414 of this Article, the faith and credit
of the State of Maryland , WITH THE APPROVAL OF THE
BOARD OF PUBLIC WORKS, may be pledged to secure bonds,
debentures, notes, or other evidences of indebtedness, issued on or
after June 1, 1966, by Development Credit Corporation of Maryland
as authorized by subsection (b) (1) of said Section 414; provided,
however, that the faith and credit of the State of Maryland may not
be pledged to secure more than three million dollars ($3,000,000.00)
in principal amount of such indebtedness outstanding at any one
time. Within the limits of this maximum amount, the Board of Public
Works, upon receiving APPROVING a formal request therefor from
Development Credit Corporation of Maryland, shall provide for
pledging the faith and credit of the State of Maryland for such
bonds, debentures, notes or other evidences of indebtedness.

No officer or official of the State of Maryland, whether elected or
appointed, shall be either an officer or a director of such corporation
[.] , except that any member of the Maryland Industrial Develop-
ment Financing Authority may be elected a member of the board of
directors of said corporation.

426A. SUPERVISION BY BANK COMMISSIONER

THE DEVELOPMENT CREDIT CORPORATION OF MARY-
LAND SHALL BE SUBJECT TO SUPERVISION BY THE BANK
COMMISSIONER OF MARYLAND UNDER THE APPROPRI-
ATE PROVISIONS OF ARTICLE 11 OF THE ANNOTATED
CODE OF MARYLAND.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1966.

Approved April 14, 1966.

CHAPTER 146
(Senate Bill 297)

AN ACT to add a new Section 187H to Article 66½ of the Anno-
tated Code of Maryland (1957 Edition and 1965 Supplement),
title "Motor Vehicles," subtitle "Operation of Vehicles Upon High-
ways," to follow immediately after Section 187G thereof, amend-
ing the motor vehicle laws in order to provide that the County
Council for Wicomico County may regulate the speed of vehicles
on certain public thoroughfares within Wicomico County, and
relating to such regulation and to the enforcement thereof.