400                              Laws of Maryland                      [Ch. 133

reserves, fidelity bonds and any legally required deposits of the appli-
cant, and other pertinent facts and circumstances, and may grant
or refuse the application accordingly.

If the Director shall not approve [such] an application, the asso-
ciation may appeal to the Board of Building, Savings and Loan
Association Commissioners in the manner provided by Section
161H(c).

418.

The charter may be amended by the votes of the stockholders and
the members of the corporation, voting separately by classes, and
such amendments shall require approval by the affirmative vote of
[two thirds] two-thirds of the votes to which the stockholders shall
be entitled and [two thirds] two-thirds of the votes to which the
members shall be entitled; provided, that no amendment of this
charter which is inconsistent with the general purposes expressed
herein or which authorizes any additional class of capital stock to be
issued shall be made without amendment of this subtitle; and pro-
vided, further, that no amendment of the charter which increases
the obligation of a member to make loans to the corporation, or
makes any changes in the principal amount, interest, rate, maturity
date, or in the security or credit position of any outstanding loan of
a member to the corporation, or affects a member's right to with-
draw from membership as provided in Section 419, or affects a
member's voting rights as provided herein, shall be made without the
consent of each member affected by such amendment. If and when-
ever any provision of this subtitle shall have been amended, deleted,
or added by an act of legislature enacted into law subsequent to
June 1, 1959, such act (herein referred to as "legislative [amend-
ment has been voted on, a certificate signed and sworn to by]
amendment") shall be submitted to a meeting of the stockholders
and the members of the corporation for their approval or disapproval
in the same manner as though it were an amendment proposed
without a legislative act. Within thirty days after any meeting at
which a legislative amendment has been voted on, a certificate signed
and sworn to by the clerk or other recording officer of the corpora-
tion setting forth the action taken at such meeting with respect to
such amendment, shall be filed in the office of the Secretary of State.

Sec. 2. And be it further enacted, That this Act shall take effect
July 1, 1971.

Approved April 23, 1971.

CHAPTER 133
(House Bill 222)

AN ACT to repeal and re-enact, with amendments, Section 70-15
of the Montgomery County Code, 1965, title "Montgomery County,"
subtitle "Park and Planning Commission," being also Section
59-11 of the Code of Public Local Laws of Prince George's County,
1963 Edition and 1967 Supplement, title "Prince George's County,"