578                            LAWS OF MARYLAND                     [CH. 295

land (1965 Supplement), title "Alcoholic Beverages," subtitle "Ap-
plication for License," be and it is hereby repealed and re-enacted,
with amendments, to read as follows:

57.             

(c) In Baltimore City the certificate shall be signed by at least
three citizens who shall be owners of real estate and registered
voters of the city, setting forth a statement that the applicant
is personally known to them and has been a resident and or a
taxpayer of the city for two years and a resident of the State of
Maryland for two years preceding the presentation to them of the
application, and in the case of a corporation at least one of the
applicants is personally known to them and has been a RESIDENT
OR taxpayer of the city for a period of at least two years and a resi-
dent of the State of Maryland for two years preceding the presenta-
tion to them of the application and is a registered voter and taxpayer
of the city ; and in the case of a partnership that all members of the
partnership have been RESIDENTS OR taxpayers of the city for
at least a period of two years and a resident of the State of Maryland
for two years preceding the presentation of the application to them.

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

Approved April 29, 1966.

CHAPTER 295
(House Bill 420)

AN ACT to repeal and re-enact, with amendments, Section 161HH
of Article 23 of the Annotated Code of Maryland, (1965 Supple-
ment), title "Corporations," subtitle "III. Particular Classes of
Corporations" subheading "Building or Homestead Associa-
tions," decreasing the franchise tax on savings and loan associa-
tions.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 161HH of Article 23 of the Annotated Code of Mary-
land (1965 Supplement), title "Corporations," subtitle "III. Particu-
lar Classes of Corporations" subheading "Building or Homestead
Associations," be and the same is hereby repealed and re-enacted,
with amendments, to read as follows:

161HH.

Every federal and domestic association and foreign association ad-
mitted to do business in this State shall pay annually for the use of
the State, in addition to any other tax imposed by law, a franchise
tax on the amount of [one hundred seventy-five ten-thousandths of
one per cent (175/10,000 of 1%)] one hundred fifty ten-thousandths
of one per cent (150/10,000 of 1%) of the aggregate withdrawal
value of its free shares purchased in the State of Maryland, said
free shares to be totalled as of December 31 of each and every year,
and shall certify the said amount due to the State to the Comp-