Marvin Mandel, Governor                         647

503. [Shares of Building and Loan Associations held by Minor or
by Minor and Adult Jointly] Free Share Accounts to Which a
Minor is a Party.

[(a) Whenever any shares in a building or homestead association
are held in the name of any minor or minors, which term includes
any male or female under the age of twenty-one years, the same
shall be held for the exclusive right and benefit of such minor or
minors and free from the control or lien of all persons whatsoever,
except creditors, and shall be paid, with any dividends due thereon,
to the person or persons in whose name or names the shares are held,
and the receipt of such minor or minors shall be a sufficient release or
discharge for such shares to the homestead or building association.

(b) Whenever any shares in a building or homestead association
are held in the name of any minor or minors and also in the name of
an adult, the interest of such minor or minors shall be held for the
exclusive right and benefit of such minor or minors and shall be
free from the control or lien of all persons whatsoever, except the
interest of the adult who also has an interest in said shares and ex-
cept creditors, and shall be paid, with any dividends due thereon,
to the persons in whose names the shares are held, and the receipt of
the minor or minors, as the case may be, and the adult shall be
sufficient release or discharge for such shares to the homestead or
building association.]

The receipt or acquittance of any minor, who is the sole owner of
a free share account with the right to withdraw funds therefrom,
in a building or homestead association, shall be a valid and suf-
ficient release and discharge of such association for any payment to
such minor on any such free share account.

Sec. 2. And be it further enacted, That Section 4 of Article 72A
of the Annotated Code of Maryland (1967 Replacement Volume),
title "Parent and Child", be and it is hereby repealed.

Sec. 3. And be it further enacted, That this Act shall take effect
July 1, 1970.

Approved April 22, 1970

CHAPTER 268
(Senate Bill 244)

AN ACT to repeal and re-enact, with amendments, subsection (e) of
Section 6B of Article 33A of the Annotated Code of Maryland (1969
Supplement), title "Eminent Domain," to extend the time when the
State Roads Commission shall make certain payments under the
Eminent Domain provisions of the law.

Whereas, the General Assembly of Maryland enacted Chapter
242 of the Acts of 1969 now codified as Section 6B of Article 33A
of the Annotated Code of Maryland, which Chapter provided that
the State Roads Commission make certain payments in addition to
fair market value in cases where land was being acquired for high-
ways financed wholly with State money, and