CORPORATIONS. 269

any lawful process against said association which is served on such attor-
ney shall be of the same legal force and validity as if served on such
association within this State; and also that in case of the death or absence
of the attorney so appointed, service of process may be made upon any one
of the members of the State Tax Commission of Maryland, and such
power of attorney cannot be revoked or modified (except that a new one
may be substituted), so long as any liability remains outstanding against
such association in this State. The term process used above shall be held
and deemed to include any writ, summons or order whereby any action,
suit or proceeding shall be commenced or which shall be issued in or upon
any action, suit or proceeding by any Court, officer or magistrate.

(d) When a foreign building association has complied with the pro-
visions of the preceding sub-section hereof, and the State Tax Commis-
sion of Maryland is satisfied that it is doing business according to the laws
of Maryland and is in sound financial condition, it shall issue its certificates
of authority to the association to do business in this State. Annually there-
after, upon filing the annual statement herein provided for, if the Com-
mission is satisfied as herein provided, it shall issue a renewal of such
certificate.

(e) A foreign building association may collect and use the interest on
securities deposited as provided by law so long as it fulfills its obligations
and complies with the laws of this State. It may also exchange them for
other securities of equal value satisfactory to the Treasurer of Maryland.

(f) The deposit made by a foreign building association with the Treas
urer of Maryland shall be held as security for all claims of residents of this
State against such association, and be liable for all judgments or decrees
thereon, and subjected to the payment thereof in the same manner as the
property of other non-residents. Should an association cease to do business
in this State, the Treasurer of Maryland, upon a certificate from the State
Tax Commission, may release securities in his discretion, retaining suffi-
cient to satisfy all outstanding liabilities.

(g) Foreign building associations shall pay to the State Tax Commis-
sion the following fees:

For filing an application for admission to do business in this State, Five
Hundred Dollars ($500. 00);

For each certificate of authority and annual renewal thereof, Two Hun-
dred Dollars ($200. 00).

(h) A foreign building association which does business in this State
without first complying with the provisions herein, or which wilfully vio-
lates or fails to comply with the provisions of laws relating to foreign
building associations shall forfeit and pay not less than Twenty-five Dollars
($25. 00) nor more than Five Hundred Dollars ($500. 00) to be recovered
by an action in the name of the State and on collection paid into the State
Treasury.

Savings depositor entitled to payment in full before anything was paid to
stockholders or free shareholders. Building & Loan Assn, v Dembowczyk, 167
Md. 266.

Cited but not construed in Polly v. Camden Bldg. & Sav. Assn., 167 Md. 580.

& ^J