160                             LAWS OF MARYLAND                      [CH. 128

plus moneys in any fund or account [,] of which they have custody
or control [,] either in bonds or other obligations [,] for the pay-
ment of principal and interest of which the faith and credit of the
United States of America are pledged, or in obligations of the
Federal National Mortgage Association [and to sell the same], or
to [invest] deposit said [monies] moneys in any bank or banks in
the State of Maryland in [an] interest-bearing time deposit and/or
savings accounts. Such deposits in bank shall only be made where
the bank has deposited a like amount of bonds in escrow, as now
prescribed by law, covering bank deposits. The interest or income
from any such investment or deposit shall be and become a part of
the fund from which the investment or deposit was made and may
itself be so invested or deposited, provided, however, that where the
fund so invested or deposited constitutes the proceeds of the issue
of bonds or other obligations, the principal of and/or interest on
which the issuer is obligated to repay to the holders thereof, the
interest or income from such investments may be used to pay the
principal and/or interest on the same by the issuer. Investments
or deposits made pursuant to this section may be [retained until
such time as the investor shall decide otherwise] withdrawn or
altered from time to time by the investing or depositing officer or
governing body either to meet the requirements for which such funds
are held or for reinvestment pursuant to the terms hereof.

All such investments made prior to March 2, 1943, are hereby
legalized, validated, ratified and confirmed, notwithstanding the
absence of statutory authority therefor or any inconsistent provision
of law.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1968.

Approved April 10, 1968.

CHAPTER 128
(Senate Bill 258)

AN ACT to add Sections 130(b) and 130(c) to Article 23 of the
Annotated Code of Maryland (1966 Replacement Volume and
1967 Supplement), title "Corporations," subtitle "Stock Corpora-
tions," subheading "Recording and Filing with the State Tax
Commission," to follow immediately after Section 130 (a) thereof,
amending the laws concerning recording, filing and other fees
applicable to corporations in order to correct the inadvertent
omission of these sections in a previous amendment.

Whereas, Chapter 649 of the Acts of 1967, in amending Section
130 of Article 23 of the Code, inadvertently omitted subsections (b)
and (c) of the same section; and

Whereas, it is desirable to correct this inadvertent error in order
that Section 130 as reprinted will contain the entire applicable text;
now, therefore,;