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THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.
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1835.
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SEC. 23. And be it enacted, That at any time here-
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after, the notes or issues of this corporation, common-
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CHAP. 341.
Issues may be re-
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ly called and known as bank notes, may be restricted
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stricted
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by the Legislature, to a denomination not less than
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that of the notes or issues of any other incorporated
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hank within the State, the lowest denomination of
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whose notes shall be above five dollars.
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SEC. 24. And be it enacted, That if all the capital
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Coondition of open-
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stock of the said bank shall not he subscribed upon the
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ing books for stock, &c.
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opening of the books by the commissioners, but enough
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be taken to entitle the said bank to go into operation,
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then the president and directors from time to time
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shall cause books to be opened until the whole number
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of shares shall be subscribed for.
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SEC. 25. And be it enacted, That on the first Mon-
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20 cents on $100
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day of January, subsequent to the organization of the
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school tax
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said bank and on the same day annually thereafter, the
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said bank shall pay or cause to be paid to the Treasu-
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rer of the Western Shore, of the State of Maryland,
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the .sum of twenty cents on every hundred dollars of
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the capital of said bank then actually paid in, whether
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in money or real estate, to he applied by said treasu-
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rer in augmentation of the free school fund of the State,
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in the same manner as the. similar tax paid by the
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other incorporated hanks in the city of Baltimore, is
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now applied, and in case of the failure of said bank to
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make such payment, for the space of six months after
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the same shall have been payable, this charter shall be
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forfeited and shall be deemed null and void.
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SEC. 26. And be it enacted, That the said corpora-
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Bonus
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tion or the president and directors thereof, shall in
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consideration of the corporate privilege hereby grant-
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ed, pay to the State of Maryland, in addition to the
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twenty cents on each one hundred dollars, as provided
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for in the proceeding section, a bonus of eighteen thou-
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sand seven hundred and fifty dollars, in three equal
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annual payments, the first of said payments to be made
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within thirty days after the said bank shall have gone
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into operation, and a further bonus on the capital,
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whether in money or real estate, which the said bank
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shall at any time have over or above the sum of five
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78
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