2322                                        LAWS OF MARYLAND                     [Ch. 411

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1975.

Approved April 22, 1975.

CHAPTER 412
(House Bill 144)

AN ACT concerning

Building, Savings and Loan Associations -
Relocation of Offices

FOR the purpose of imposing certain requirements on the
relocation of a principal office of any building,
savings and loan association, and correcting certain
language.

BY repealing and re—enacting, with amendments,

Article 23 — Corporations

Section 161V(a)

Annotated Code of Maryland

(1973 Replacement Volume and 1974 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 1617(a) of Article 23 -
Corporations, of the Annotated Code of Maryland (1973
Replacement Volume and 1974 Supplement) be and it is
hereby repealed and re—enacted, with amendments, to read
as follows:

Article 23 — Corporations

1617.

(a) No State—chartered association shall
establish, maintain or relocate any branch office, OR
RELOCATE A PRINCIPAL OFFICE, without filing an
application therefor with the Director and securing his
prior approval thereof. Each application shall be
accompanied by a fee of [five hundred dollars ($500.00)]
$500, to be collected by the Division. Any application
for the establishment, maintenance or relocation of a
branch office, OR A RELOCATION OF A PRINCIPAL OFFICE,
shall state: (1) the proposed location thereof, (2) the
need therefor, (3) the functions to be performed therein,