MARVIN MANDEL, Governor                        805

161Z(b)

(4)    In loans for educational purposes for in home improve-
ment loans either of] which may be secured or unsecured and may
be second liens on real estate whether or not the first lien on the
real estate is held by the association.

(5)    In loans for contractors CONSTRUCTION of new structures
related to residential use of property; home or property repairs, alter-
ations, improvements and additions any of which may be secured or
unsecured, and may be second liens on real estate whether or not the
first lien on the real estate is held by the association; provided,
however, that no association may be authorized to invest in this
type of loan unless said association has been approved to originate
Title I, Property Improvement Loans, insured by the Federal Housing
Administration under the National Housing Act, as from time to time
amended.

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

Approved April 23, 1969.

CHAPTER 345
(House Bill 742)

AN ACT to add new Section 161Z(b)(5) of Article 23 of the
Annotated Code of Maryland (1966 Replacement Volume, 1967
1968 Supplement), title "Corporations," subtitle "Building or
Homestead Associations," to follow immediately after Section
161Z(b)(4) thereof, to permit savings and loan associations to
invest in loans made for the purpose of mobile home financing.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Section 161Z(b)(5) of Article 23 of the Annotated Code
of Maryland (1966 Replacement Volume, 1967 1968 Supplement),
title "Corporations," subtitle "Building or Homestead Associations,"
be and it is hereby added to said Article of this Code, to read as
follows:

161Z. Investments of Associations.

(b) (5) in IN loans made for the purpose of moble MOBILE home
financing. For the purposes of this subsection "mobile home" shall
mean a movable accommodation used or designed for use as living
quarters.

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

Approved April 23, 1969.