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Proceedings and Acts of the General Assembly, 1867
Volume 133, Page 5080   View pdf image (33K)
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868 LAWS OF MARYLAND.

tained in this Act shall be construed to authorize
loans otherwise than as hereinbefore specified; or
to make discounts in the usual way or to issue
aught in the nature of a bank note or token, but
solely and exclusively the certificate aforesaid,
which shall not be negotiable.

Conditions of
transfer of
stock.

Sec. 12. And be it enacted, That no stockholder
or depositor who may he indebted to said corpora-
tion, shall transfer his, her or their stock or de-
posit until such indebtedness shall have been paid
or secured to the satisfaction of the Directors there-
of or the assent of said corporation expressed by
its Treasurer in writing on said certificate shall
have been obtained.

Stockholders
liable.

Sec. 13. And be it enacted. That the stockholders
severally shall be liable to the amount of their
respective shares of stock, for all the liabilities and
debts of the corporation hereby created, whether
or not such stockholder be a Director or officer
thereof.

State Tax.

Sec. 14. And be it enacted. That the tax payable
to the State annually by said corporation shall be
two hundred dollars.

Duration of
Act.

Sec. 15. And be it enacted, That this Act shall
take effect from and after the date of its passage,
and shall continue in force until the first day of
January, eighteen hundred and ninety, and until
the end of the regular session of the General As-
sembly next thereafter, unless altered or repealed
in whole or in part by the General Assembly, at
an earlier date at its pleasure, the right of the
Legislature so to do being hereby explicitly de-
clared and reserved.

In force.

Sec. 16. And be it enacted, That this Act shall
take effect on and after the date of its passage.



 
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Proceedings and Acts of the General Assembly, 1867
Volume 133, Page 5080   View pdf image (33K)
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