be issued to the subscribers, signed by the Presi-
dent and Secretary of the Board of Managers,
which shall be transferable by the holders thereof.

How controll-
ed.

Sec. 7. And be it enacted. That when and as
soon as the said building is erected and completed,
it shall be subject to the entire and exclusive con-
trol of the Board of Managers for the use and
benefit of the said association, and all rents and
profits thereof shall be exclusively appropriated
to defraying the expenses of the association, and
improving and increasing the library thereof.

In case of
ceasing to use.

Sec. 8. And be it enacted. That should the said
corporation cease to use the said building as a
reading room and library for a period of twelve
consecutive months, that then, and in that event,
the said building shall revert to and become the
property of the persons who have subscribed to the
said building, and hold certificates thereof, their
executors, administrators or assigns, the interest
of each in said building to be determined by the
proportion the amount of which the certificate is
held bears to the whole amount of subscription
paid.

So banking
privileges.

Sec. 9. And be it enacted. That nothing herein
contained shall be so construed as to authorize or
empower the said corporation to issue any note,
certificate, token or evidence of debt to be used as
currency, and the right is hereby expressly reserved
to the General Assembly of Maryland to alter,
amend or repeal this Act at pleasure.

In force.

Sec. 10. And be it enacted, That this Act shall
take effect from the date of its passage.

CHAPTER 358.

Passed Mar,
20,1867.

AN ACT to Incorporate the Baltimore Permanent
Building and Land Society.

Incorporated.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That James Musgrove, William P.