Marvin Mandel, Governor                         411

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 66(g) of Article 23 of the Annotated Code of Maryland,
(1966 Replacement Volume), title "Corporations," subtitle "Consol-
idation, Merger and Other Transfers of Property," be and the same
is hereby repealed and re-enacted, with amendments, to read as
follows:

66.

(g) (1) The [Commission] Department shall prepare a cer-
tificate or certificates of consolidation, merger, or transfer, as the
case may be, giving the names of the parties to the articles, the
name and the location of the principal office or place of business
of the new or the surviving corporation or of the transferee, and
the time of the acceptance of the articles for record by the [Com-
mission] Department. In addition to other provisions of law with
respect to recordation, one of such certificates shall be transmitted
by the [Commission] Department to the clerk of court of each county
in this State (other than any county in which the articles will be
recorded), in which the principal offices of one or more of the con-
solidating, merging or transferor corporations are located and of
each county of this State in which the articles show any of said
consolidating, merging or transferor corporations, other than the
corporation surviving the merger, owns property the title to which
could be affected by the recording of an instrument among the land
records. Upon receipt of said certificate, the clerk of court shall
promptly record the same among the charter records, if it relates
to the location of a principal office, and among the land records, if
it relates to property the title of which could be affected by the
recording of an instrument among the land records.

(2) In order to maintain the currency of the land assessment
records in the several counties, the Department may require that
there be submitted with the articles of consolidation, merger, or
transfer a certificate for each county in which is located property
owned by any of said consolidating, merging, or transferor corpora-
tions, other than the corporation surviving the merger, the title to
which property could be affected by the recording of an instrument
among the land records, said certificate to provide a deed reference
or other description sufficient to identify such property; and the
Department shall indicate on the certificate the time of acceptance
of said articles and send one copy of the certificate to the chief
assessor of each county in which the property is located; provided,
however, that transfer, vesting or devolution of title to the property
shall not be invalidated or otherwise affected by any error or defect
in the certificate or failure to file it or failure of the Department
to act upon it, and, provided further, that no certificate shall be
required with respect to any property in which the only interest
owned by the consolidating, merging, or transferor corporation is a
security interest. Such certificate shall be in such form and number
of copies as the Department may prescribe, and the certificate of
the Department required by subsection (1) of this section may be
incorporated therein or stamped or inserted thereon.

Sec. 2. And be it further enacted, That this Act is hereby declared
to be an emergency measure and necessary for the immediate pres-
ervation of the public health and safety and having been passed