750                               LAWS OF MARYLAND                       [CH. 285

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 77(c), 161Z(b), 161Z(g) and 274A of Article 23 of
the Annotated Code of Maryland (1968 Supplement) title "Corpora-
tions," subtitles, "Dissolution," "Building or Homestead Associa-
tions," and "Religious Corporations," be and the same are hereby
repealed and re-enacted, with amendments, to read as follows:

77.

(c) The Department shall not receive for record articles of dis-
solution of any corporation of this State unless, (1) all taxes due and
payable by the corporation to the Department, including taxes billed
at the current rate pursuant to Section 49 A of Article 81, have been
paid or provided for in a manner satisfactory to the Department,
except taxes barred by Section 212 of Article 81 or otherwise, and
(2) such articles of dissolution are accompanied by certificates of the
Comptroller of the Treasury and every collector of taxes in the list
supplied by the Department as hereinafter provided, stating in
effect that all taxes levied on assessments made by the Department
and billed by and payable to such collecting authorities by the
corporation have been paid or provided for in a manner satisfactory
to the Comptroller of the Treasury and such authorities, respectively,
except taxes barred by Section 212 of Article 81 or otherwise,
but including taxes billed for the year in which the dissolution is to
be effected. No collector of taxes shall certify as to the payment
of taxes until certified assessments of personal property following
the next preceding date of finality have been received from the
Department and personal property taxes have been billed at the
current year's rate pursuant to Section 49A of Article 81, but a
certificate based on a satisfactory provision for payment as afore-
said may be made prior thereto. Upon written request of the corpo-
ration, the Department shall furnish to the corporation, without
charge, a list of all collectors of taxes of counties [,] and munic-
ipalities to which the Department has within a period of four years
certified any assessment of personal property taxable to the cor-
poration.

161.

(b) The Board, by regulation, may authorize associations to in-
vest in the following types of investments subject to such conditions
and restrictions as the Board may from time to time impose:

(1)    In participation interests (not exceeding fifty percent of the
total amount of the loan) with savings and loan associations located
in other states and the District of Columbia or with an agency or
instrumentality of the United States in loans secured by first liens
on real estate located in other states or the District of Columbia.
Whenever a loan is insured or guaranteed by the United States or an
agency or instrumentality of the United States, an association may
participate with savings and loan associations where