Montgomery County sentinel., 1962-10-04

denied under this article TO any other
wise eligible individual for refusing 10
accept new work under any OF the fol-
lowing conditions; (A) II the position
offered IS vacant due directly 10 q strike,
lockout, or other labor dispute; (B) il
the wages, hours, or other conditions of
the work offered are substantially less
favorable 10 the individual than those
prevailing for similar work in the local
ity; (C) if as a condition Of being en-
ployed the individual would be required
TO join company union or 10 resign
from or refrain from joining any bona
hde labor organization.
ID Pregnancy. For the FOUR
months before the expected date OF the
birth of child and the two months
after the actual date of the birth of said
child, in either Of which cases the Ex-
eeutive Director may require the produe-
tion Of Doctors certificates to establish
such dates; but she shall be eligible for
benefits during the first FIVE months
of pregnancy providing that she is physi-
cally able to continue her employment
and is otherwise eligible under the bene-
MT eligibility conditions set out in Section
SEC, ;. AND BE TT FURTHER
ENACTED, THAT SECTION 20 (N)
(lo) OF THE SAID ARTICLE AND
SUBTITLE BE AND THE SAME
is HEREBY REPEALED.
SEC. 4. .4Ad Be it jnrtksr enacted,
That this Act shall take effect June i,
1861.
EXPLANATION: Halics i,ldieate new waiter
added to efistin0 !GtU.
IBrscketsl indicate matter stricken
from existing law.
CAPITALS indicate amendments 10 bill,
CHAPTER EOS
AN ACT to add new Sections l6iA-
i6iKK TO Article 2s of the Annotated
Code OF Maryland (ss7 Edition..
title Corporations, subtitle Build
ing or Homestead Associations" to
follow Immediately after Section l61
thereof, providing generally for the
organization, incorporation, operation,
conduct, regulation Of and supervision
over the savings and loan business,
which is known generally as the build
ing, savings and loan or homestead
business; providing further for the
investments, withdrawal OF accounts,
taxation, membership, pTomotional acti-
vities, management and functions of
such businesses, including class and
type of securities, and ALLEGATION of
profits, reserves and dividends; pro-
viding for the branching, consolidation,
merger, dissolution, and revival of such
businesses; making provision for con-
servators and receivers for such busi-
nesses; exempting accounts Of such
businesses from Blue Sky Law;
creating a Board of Building, Savings
and Loan Association Commissioners,
and making provision for the members
OF such Board and for their qtialihca-
tions, tenure, powers and duties; Great.
ing a Department of Building, Saw
ings and Loan Associations, providing
for. Director and for other officers
and employees Of this Department, and
making provision for the appointment,
duties, Compensation, policy, powers
and duties Of all such officers and en-
ployees Of this Department; providing
methods for compliance with stock class
requirements; providing penalties for
failure or refusal to comply with GER
tain provisions Of this Act; and reiat.
ing generally to the organizations and
businesses known generally as build
ing, savings and loan or homestead
businesses in this State.
SECTION !. Be II enacted By tie GEN
erdl Assembly Of MdYyloHd, That new
Sections l6iA-l6iKK be and they are
hereby added to Article % of the An
notated Code Of Maryland (lSs7 Edi-
Building or Homestead Associations" TO
thereof, and to read as follows;
1914. POLICY.
1t is the declared policy Of this State
that:
(dJ The savings and loan business,
otkerspiss kno7eS as tie baii5iR1, SAYINGS
and loan or homestsad business, sgJ.ick is
gUitiiH the scope of this Article, has 50
expanded in recent yssrS AID has BE-
come so Jte0ra'eG Yith the financial
institutions OF this State and Is so in
fortaat as a method Of Promoting k0ms
ottyerS'lb dE3 thrift, that such baSiasSs
ts drecstd sCi!A public interest aid
shall be Supervised as bAstMess aFsct-
iHg tie economic security and general
tCelfdys OF The people Of this State;
(b) SHcb business shall be conducted
only by ajSoeiati0ns organised and con-
dActcd ~ accordance 7oish TIE authority
ProSidsd BY this Ayticle;
(cJ The NHmber and minimum siKs
OF the associations conducting Saeh bHSi-
Hess shall Be controlled in the interest of
securely AID efficiently serving The needs
of tie localities iH 5clich they oberd.e:
Id The public interest requires the
promotion ani fostering Of tie building,
5dSings and loan or LomestsGd bas'Hess
ard the assurance Of its financial stabI-
ity;
(s) SHch associations shall be organ
iEed for the purpose OF accepting Tree
share accounts and making loans to their
msnbeYS;
~ IN order TO Gekisye the atoyssaid
pa,boSes and policy, IL is Heces5ayy that
all associations, EXCEPT AS PROVGD-
ED IN SECTION 16iP OF THIS
ARTICLE, shall haze Only one kind or
class Of shares or stock aud that oil the
holders of such shares or stock shall
toefN HuffgT ~fakte 10
ard assets;
(g) In order to further the botieiss
herein eEtre5sed, TIE tr0yis!0Hs Of thi5
Article applicable to dssoeiati0ns shall be
literally construed 10 Promote and foster
the purposes Of such associations.
lob; APPLICATION or PRoVT-
faj Definition of "assoeiation." As
used in his subtitle, the uord "dssoci-
alton" shall meGn building, savings asS
loan or LomsStSad dSsociafioH or any
other similar a5SociGtion BY s0hatStsr
name called
(5) Domestic and foreign assoodiions.
Tie Pros!5ioHs OF this Aftie shall dp-
fiy TO all associations heretofore or here.
after organized under the iaCs Of fhi5
State; and 10 all foreign dssociasions
duly authorized 10 do business IN fhis
State,
(e) Fedssdi dgsoci0sioNs Uni>Ss FED
srdI IdtUS or regulations broVi9e other
liSs, Federal aSSocidtionS iacorboraied
pursuant to the HomFo10HeyS Loan Act
of 1898, o. amended, and their neD.bers
shall Be subject TO The byoVisioHs of this
subtitle and shall fossesJ all Of the
rights, po1oFrs, prigileees, 'nmEHities aud
SFSmbfioHS granted By this article 10 a.
soeidtlons operating hsrsHndev and 70 the
tpeUbeFs Thereof
1910. prohibitions.
(dD Who may transact bnJirsss. No
fsySoB or gyoHp Of persons sFcebt ~
an asSoeidtioN duly ineoyboyated under
SeefioEs 1914 through f6fKK Of Gis
Article, or (2) an d5sOeidtion duly
tHeoyboyatei prior TO the sH0etBIeAt
Of tie ofoyssdid Sections and con.
dHcted IN conformity sOih the afofs-
said Sections, or ~ Federal sIsOeia-
dathoyised to do bHsiNsss Within this STATE
ard complying and conducting its bust
ness IN conformity Nth The sfoySsaid
Sections, shall tyaHsaef bnSigsJs uitFin
the scope Of this sKb.siile or do
basiHSsS under any NdBie or titlS, Oy cir
calate or use any adpsytising oy rdks
any ysprsJenfdtloH or 0igs any infoYna-
ton to any pSySoH which indicdtss or
ysdgoNabiy IMPLIES the obsy6tioH Of
building, sOVin0s and iOds or homsHsad
bHsiAsSJ.
(bl Injunction. Upon APPLICATION of
he Dysef1y, Nth fhs abbyo16l of the
Board, court of eombsisnt Jurisdiction
may iSSas an injunction 10 Vsstrstn any
person or 6sSoeidtioH from violating or
continuing to violate any of the byevi-
Eors Of sab-ssetio. (a) ksvsof.
(e) Fine. In addition 10 the ysnsdy
byopidSd in srb.ssction (b) hersof, any
person or assoei6tioy violating any OF
the byoVisioAs Of Sp6-JsefioN la hsysof