Marvin Mandel, Governor                         771

which persons sentenced to imprisonment in the Anne Arundel
County detention center may be granted the privilege of leaving
actual confinement during reasonable hours for the purpose of work-
ing at gainful employment, and to make such provisions for the
payment of the offender's lawful obligations, after payroll deductions
required by law, for support of his dependents, restitution, payment
of fines, court costs including repayment to the county for assigned
counsel, and such amount determined to be the cost to the county of
providing food, lodging and clothing for the offender, from the monies
earned by him as the court shall deem reasonable and proper. The
earnings of the prisoner shall be collected and disbursed by the State
Department of Parole and Probation as directed by the Court.

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

Approved April 22, 1970

CHAPTER 366
(House Bill 974)

AN ACT to add new Section 161H-A to Article 23 of the Annotated
Code of Maryland (1966 Replacement Volume), title "Corpora-
tions," subtitle "III. Particular Classes of Corporations," subhead-
ing "Building or Homestead Associations," to follow immediately
after Section 161H thereof, to authorize savings and loan associa-
tions to act as trustees or custodians within the contemplation of
the Federal Self-Employed Individuals Tax Retirement Act of
1962 as amended.

Section 1. Be it enacted by the General Assembly of Maryland,
That new Section 161H-A be and it is hereby added to Article 23 of
the Annotated Code of Maryland (1966 Replacement Volume), title
"Corporations," subtitle "III. Particular Classes of Corporations,"
subheading "Building or Homestead Associations," to follow imme-
diately after Section 161H thereof, and all to read as follows:

161H-A.

Upon application to and approval by the Director, an association
may act as a trustee or custodian within the contemplation of the
Federal Self-Employed Individuals Tax Retirement Act of 1962, as
amended, and as trustee, custodian or manager of any investment

fund, the authorized investments of which include, but need not be
limited to, savings accounts or real estate loans, and the beneficial

interests in which may be represented by transferable shares or
certificates.

Associations exercising the powers authorized by this subsection
shall segregate all funds held in such fiduciary capacities from the
general assets of the association and shall keep a separate set of
books and records, showing in detail all transactions made under
authority of this subsection.