1716                           LAWS OF MARYLAND                     [CH. 793

Harford, Kent, Queen Anne's, Somerset, Talbot, Wicomico and
Worcester counties, such stock business shall be assessed at sixty
percentum (60%) of such fair average value for the twelve months
preceding the date of finality. For the purpose of county taxation
in Montgomery and Anne Arundel counties, stock in business shall
be assessed at fifty percentum (50%) of such fair average value for
the twelve months preceding the date of finality.

Sec. 2. And be it further enacted, That this Act shall take effect
June JULY 1, 1969.

Approved May 21, 1969.

CHAPTER 793
(Senate Bill 74)

AN ACT to add new Section 4-P to Article 14B of the Annotated
Code of Maryland, (1968 Replacement Volume), title "State Boat
Act," to follow immediately after Section 4-0 thereof, to establish a
procedure whereby persons may acquire title to abandoned boats.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Section 4-P be and it is hereby added to Article 14B of the
Annotated Code of Maryland (1968 Replacement Volume), title
"State Boat Act," to follow immediately after Section 4-0 thereof,
and to read as follows:

4P.

(a)    A landowner, his lessee, or his agent, subject to the provi-
sions of this section, may acquire title of any vessel apparently
abandoned on his land or the water immediately adjacent thereto.
The acquisition of title divests any other person of any interest in
the vessel.

(b)    This section shall apply only to vessels which have been
apparently abandoned for over three SIX months-: AND THE
OWNER OR OWNERS ARE UNABLE TO BE LOCATED OR
NOTIFIED AS PROVIDED FOR IN SECTION 4P. (C) (1).

(c) (1) If a vessel has a boat registration number or mother means
of identifying the owner thereof, the person desiring to acquire
title, if possible, must secure the owner's last known address. , AND
THE LIENHOLDER, IF ANY, APPEARING ON THE RECORDS
OF THE DEPARTMENT OF CHESAPEAKE BAY AFFAIRS. He
shall notify the owner by registered letter to his last known address
AND THE LIENHOLDER BY REGISTERED LETTER AT THE
ADDRESS OF THE LIENHOLDER APPEARING ON THE
RECORDS OF THE DEPARTMENT OF CHESAPEAKE BAY
AFFAIRS, that if ownership is not claimed and the vessel removed
within 15 30 days, title to the vessel will be applied for in his name.
If any vessel's owner cannot be identified or his address ascertained,
OR NO LIENHOLDER APPEARS ON THE RECORDS OF THE
DEPARTMENT OF CHESAPEAKE BAY AFFAIRS, the registered
letter need not be sent.