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2452
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Ch. 547
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LAWS OF MARYLAND
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by the Chesapeake Bay Maritime Museum and located at St.
Michaels; and (5) real and tangible personal property
owned by Bethany House, Inc., but only for such time as
this property is used solely for the purposes of the
organization;] and [(6)] (4) real and tangible personal
property owned by the Tuckahoe Steam and Gas Association
Incorporated.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1977.
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Approved May 17, 1977.
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CHAPTER 548
(House Bill 1378)
AN ACT concerning
Building and Savings and Loan Associations
FOR the purpose of repealing certain obsolete provisions
relating to Building and Savings and Loan
Associations; and reenacting a provision requiring
the Building and Savings and Loan Associations be
insured.
BY repealing and reenacting, with amendments,
Article 23 - Miscellaneous Companies
Section 150A
Annotated Code of Maryland
(1973 Replacement Volume and 1976 Supplement)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 150A of Article 23 - Miscellaneous
Companies, of the Annotated Code of Maryland (1973
Replacement Volume and 1976 Supplement) be and it is
hereby repealed and reenacted, with amendments, to read
as follows:
Article 23 — Miscellaneous Companies
150A.
[On and after July 1, 1973, all] ALL free share
accounts of associations in this State shall be insured
by the Federal Savings and Loan Insurance Corporation or
the Maryland Savings—Share Insurance Corporation to the
maximum limit prescribed by law.
[Any existing association subject to the provisions
of this section which desires and intends to continue in
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