778                               LAWS OF MARYLAND                     [CH. 468

and Loan Association Commissioners by rule or regulations per-
mits payment of such dividends.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 161P(a) of Article 23 of the Annotated Code of
Maryland (1965 Supplement), title "Corporations," subtitle "Build-
ing or Homestead Associations," be and it hereby is repealed and
re-enacted, with amendments, to read as follows:

161P.

(a) Any association heretofore or hereafter formed under this
article shall have or issue only one kind or class of shares or stock
and all the holders of such shares or stock shall have equal rights
as to voting, earnings and assets, and any association heretofore or
hereafter formed shall have power of accepting subscriptions to
and payments on account of any number of shares or stock without
limit and without other corporate action, notwithstanding any limit-
ation on the number of shares or stock authorized by the existing
charter of such association. Nothing herein shall be construed to
prevent an association from paying, from earnings, an additional
dividend not to exceed one per cent (1%) per annum, over and
above the dividend paid on all free share accounts, on all those
free share accounts which maintain a specified minimum amount
for a specified minimum period of time, provided that the Board
by rule or regulation permits such payment, and provided further
that any such payment is made in compliance with such rules and
regulations as the Board may adopt from time to time. No associa-
tion shall agree to pay, except as hereinabove provided, on any
free share account, a rate or amount, in INCLUDING additional divi-
dends, which is fixed.

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

Approved April 29, 1966.

CHAPTER 468
(House Bill 1134)

AN ACT to repeal Section 67 of the Code of Public Local Laws of
Garrett County (1957 Edition, being Article 12 of the Code of
Public Local Laws of Maryland), title "Garrett County," subtitle
"County Commissioners," as last amended by Chapter 63 of the
Acts of 1963, and to enact new Section 67 in lieu thereof, to stand
in the place of the section repealed, to increase the salary of the
County Commissioners of Garrett County.

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 67 of the Code of Public Local Laws of Garrett County
(1957 Edition, being Article 12 of the Code of Public Local Laws of
Maryland), title "Garrett County," subtitle "County Commissioners,"
as last amended by Chapter 63 of the Acts of 1963, be and it is hereby
repealed and that new Section 67 be and it is hereby enacted in lieu