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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 2531   View pdf image (33K)
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THOMAS SWANN, ESQUIRE, GOVERNOR. 193

its equivalents, which he or she may hold at the
time, to the amount or value of five shares, and
to one vote on every additional five shares to the

 

amount or value of not exceeding one hundred
shares in all, and to one vote for every additional
ten shares thereafter, to the amount or value of
not exceeding two hundred shares in all ; provided,
that no member shall be entitled to hold at any
one time more than the amount of two hundred
shares in the funds of the Institution, and a
majority of alt the votes cast shall be required to
elect any officer.

Vote.

Sec. 9. And be it enacted, That the Institution
hereby authorized shall be subject to all other re-
strictions and limitations contained in the twelfth
Article of the Public General Laws of this State,
and not inconsistent with the provisions of this
Act, and to such general laws as may be enacted
by the General Assembly of Maryland.

Restrictions.

Sec. 10. And be it enacted, That the concerns
of the Institution hereby intended to be incorpo-
rated shall be at all times subject to the inspection
of the Treasurer of the State of Maryland, or of
such other officer or agent of the State as may be
selected for that purpose by either branch of the
Legislature.

State may
inspect.

Sec. 11, And be it enacted, That no one shall
become a Director or officer of this Institution who
is not a citizen of the State of Maryland.

Citizen.

Sec. 12. And be it enacted, That nothing in this
Act shall give any authority to said corporation
to issue any note to pass as currency.

Banking
prohibited.

Sec. 13. And be it enacted. That this Act shall
be in force from the date of its passage, and con-
tinue in force for twenty years, and until the end
of the next General Assembly which shall happen

In force.

thereafter. And the General Assembly reserves
to itself the right to alter, amend, modify or re-
peal this Act.

Approved March 17, 1868.
13

Limit.



 

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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 2531   View pdf image (33K)
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