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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 3249   View pdf image (33K)
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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.

 

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.

Acknowl-
edge deed.

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.

Banking
prohibited.

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.

Board.

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.

Evidence of
by-laws.

Sec. 5. And be it enacted, That the President
and Directors of every corporation shall keep full,
fair and correct accounts of their transactions.

Accounts
open to in-
spection.



 

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Proceedings and Acts of the General Assembly, March 30, 1868
Volume 142, Page 3249   View pdf image (33K)
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