MARVIN MANDEL, Governor                           2617

SECTION [[2]] 3. AND BE IT FURTHER ENACTED, That
this Act shall take effect July 1, 1975.

Approved April 29, 1975.

CHAPTER 547

(Senate Bill 648)

AN ACT concerning

Corporations — Aliens

FOR the purpose of permitting a Maryland corporation
conducting a business requiring a license from the
Federal Government or from this State which may be
withheld or revoked if more than a specified
percentage of its stock or voting interests are
owned or controlled by aliens, to restrict, by its
Bylaws, the transferability of its stock to aliens
and the ownership and voting of its stock by aliens.

BY repealing and re-enacting, with amendments,

Article 23 — Corporations

Section 29

Annotated Code of Maryland

(1973 Replacement Volume and 1974 Supplement)

BY repealing

Article — Corporations and Associations
Section 5-703(b)
Annotated Code of Maryland

(As enacted by Chapter ____ (SB 330) of the

Acts of the 1975 General Assembly)

BY adding to

Article — Corporations and Associations
Section 5-703(b)
Annotated Code of Maryland

(As enacted by Chapter _____ (SB 330) of the

Acts of the 1975 General Assembly)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 29 of Article 23 — Corporations,