SPIRO T. AGNEW, Governor                      1353

[building, loan or homestead] association may be admitted to do
business in the State of Maryland upon the same terms and condi-
tions, as to taxes, fines, penalties, licenses, fees and deposits, as may
be required of a Maryland association in order to transact business
in the state, territory or District of Columbia in which such asso-
ciation, making application to do business in Maryland, is incor-
porated or has its principal place of business; and when so admitted
shall conduct such business in accordance with the laws governing
domestic associations. Whenever any deposit of money, securities
or mortgages is required by such foreign jurisdiction, such deposit
shall be made with the Treasurer of Maryland and shall be held to
satisfy the claims of residents of Maryland; and such taxes, appli-
cation fees, license fees or renewal fees as may be required by such
foreign jurisdictions shall be paid to the [State Tax Commission of
Maryland] Department which, after receiving such papers, including
a power of attorney establishing a resident agent, as may be required by
such foreign jurisdiction, and being satisfied that any deposit required
by such foreign jurisdiction has been made, is authorized to license
such foreign association to do business in the State of Maryland and to
renew such license from year to year, or from time to time, as may be
required of a Maryland association seeking to do business in such
foreign jurisdiction. Any amendment to any law in force at the
effective date of this act relating to [building and loan] associ-
ations by a foreign jurisdiction affecting the right, or changing the
taxes, fees or penalties required of a Maryland association, to do
business in such foreign jurisdiction shall be immediately applied to
any association of such foreign jurisdiction authorized to do business
in Maryland. In the event the State of Maryland creates any board,
commission or bureau to supervise or regulate domestic associations,
the duties herein delegated to the [State Tax Commission] Depart-
ment shall be assumed by such board, commission or bureau and such
act or acts shall apply, so far as applicable, to foreign associations
authorized to do business in Maryland. Provided that no foreign
[building, loan or homestead] association, or any such association
which maintains its principal office outside the State of Maryland, shall
hereafter open for business, nor maintain any branch office or offices
within the State of Maryland, except such as may be open before
June 1, 1955, but provided further, that any branch office or offices
open on March 1, 1955, may thereafter be moved to a new location
within the same county and within a radius of one mile of the
location of such branch office or offices upon compliance with the
requirements of application, opportunity for protest and hearing
before the Director of Building, Savings and Loan Associations and
upon approval by the said Director, all as imposed upon domestic
[building, savings and loan] associations by Section 161V of this
article, subject to the provisions as to appeal contained in Sections
161H of this article.

[157. Who entitled to vote.]

[All shareholders of associations incorporated under Sections 144
to 155, both inclusive, of this article, or heretofore incorporated
under any special act, and all borrowers from such associations,
and all persons assuming or obligated upon loans made or held by
such association shall be members thereof, and all persons buying
the property securing loans made by such association subject to such
loans shall have the privilege of such membership at all meetings