THOMAS SWANN, ESQUIRE, GOVERNOR. 911
CHAPTER 471.
AN ACT to repeal Article twenty-six of the Code of
Public General Laws, and to enact a substitute
therefor, and to repeal section twenty-two of
Article sixteen ; sections ninety-nine to one hun-
dred and three of the same Article, and sections
thirty-three to forty-three of Article eighty-eight
of the Code of Public General Laws.
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SECTION 1 . Be it enacted by the General Assembly
of Maryland, That any corporation may acknowl-
edge any deed which such corporation has the
power to make, by attorney appointed by such cor-
poration, under the seal thereof, and such appoint-
ment may be embodied in the deed.
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Acknowl-
edge deed.
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Sec. 2. And be it enacted, That no corporation
created, or to be created, and not expressly incor-
porated for banking purposes shall, by any impli-
cation or construction, be authorized to exercise
banking privileges, or to issue any note, token or
device, scrip or other evidence of debt, to be used
as currency.
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Banking
prohibited.
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Sec. 3. And be it enacted, That when the co-
porate powers of any corporation incorporated un-
der the laws of this State, are directed by its char-
ter or certificate of incorporation to be exercised,
by any particular body, or number of persons, a
majority of such body of persons, if it be not
otherwise provided in the charter or certificate of
incorporation, shall be a sufficient number to form
a board for the transaction of business, and every
decision of a majority of the persons duly assem-
bled as a board, shall be valid as a corporate act.
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Board.
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Sec. 4. And be it enacted, That a copy of any
by-law of any corporation incorporated under the
laws of this State, under its seal and purporting
to be signed by the President, Secretary or Treas-
urer of the corporation, shall be received as prima
facie evidence of such by-law in the courts of this
State.
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Evidence of
by-laws.
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Sec. 5. And be it enacted, That the President
and Directors of every corporation shall keep full,
fair and correct accounts of their transactions.
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Accounts
open to in-
spection.
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