Marvin Mandel, Governor                         433

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1970.

Approved April 15, 1970

CHAPTER 160
(House Bill 303)

AN ACT to repeal and re-enact, with amendments, Sections 43 (b)
and 100 of Article 21 of the Annotated Code of Maryland (1969
Supplement), title "Conveyancing," subtitles "Deposits on New
Homes" and "Defective Conveyances," amending the conveyanc-
ing laws of this State in order to make certain corrections in the
language thereof.

Section 1. Be it enacted by the General Assembly of Maryland,
That Sections 43(b) and 100 of Article 21 of the Annotated Code of
Maryland (1969 Supplement), title "Conveyancing," subtitles "De-
posits on New Homes" and "Defective Conveyances," be and the
same are hereby repealed and re-enacted, with amendments, to read
as follows:

43.

(b) Failure to obtain and maintain either a corporate surety
bond or an escrow account as provided for in subsection (a) of this
section is a misdemeanor, and is punishable, upon conviction, by a
fine not to exceed five hundred dollars ($500.00) or imprisonment
not to exceed ninety days or both. If the [violations] violation is
by a coropration, then any officer, director, or employee who know-
ingly violates this section is subject to the penalties of this sub-
section.

100. Validation of Certain Assignments of Mortgages.

Any assignment of any mortgage, which assignment has been
heretofore executed and recorded, but which has not been sealed and
in which no mention of any seal has been made or in which either
of such defects, or any mortgage, or assignment of mortgage sworn
to or not sworn to at all, shall be and they are hereby made valid
to all intents and purposes, as if said mortgage or assignment of
mortgage had been in such matters in full conformity with the law
in force at the time of such execution, provided, that any such mort-
gage or assignment of mortgage is in other respects legal and valid,
and provided further, that nothing in Section 99 [of] and this
section shall affect the rights of any bona fide purchasers or creditors,
without notice, who may have become so prior to July 1, 1969.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1970.

Approved April 15, 1970