214

LAWS OF MARYLAND.

May assess.

Sec. 6. And be it enacted, That said corpora-
tion shall have the power to assess upon its mem-
bers such amount of money for the privileges of
membership, and such initiation fees as the by-
laws may prescribe, and as it may from time to

Fines.

time deem proper for the maintenance and perma-
nent welfare and support of such Baltimore Corn
and Flour Exchange. The Board of Directors shall
have the power of inflicting fines upon any of the
members for a breach of its rules, regulations or
by-laws, and to collect the same or any other due
by action of debt before a Justice of the Peace in
the name of the corporation; but no fine shall ex-
ceed ten dollars.

Board of

officers.

Sec. 7. And be it enacted, That it shall be
lawful for said Board of Directors, when they shall
think proper, to receive and require of any of their
officers good and sufficient bonds for the faithful
discharge of their duties and trust, and any Jus-
tice of the Peace of the city of Baltimore is hereby
authorized to administer such oath of office as may
be prescribed in the rules of said organization;
said bond may be sued upon before any proper
Court in the name of the corporation, and the
moneys collected and held for the use of the same.

Arbitration
Committeee.

Sec. 8. And be it enacted, That the Board of Di-
rectors shall annually elect by ballot five members
of the association who are not members of the Board
as a committee to be known as the Arbitration Com-
mittee of the Baltimore Corn and Flour Exchange.
The Board of Directors may at any time fill any
vacancy in said committee for the remainder of the
terrain which such vacancy may happen; the duty
of the Arbitration Committee shall be to hear and
decide any controversies which may arise in busi-
ness between the members of said organization, or
said members and other persons, as may be volun-
tarily submitted to the said committee for arbitra-
tion; and such members and persons may, by an
instrument in writing, signed by them and attest-
ed by a subscribing witness, agree to submit to
the decision of said committee, any such contro-
versy so arising as might be the subject of an ac-
tion at law or in equity, except claims of title to
real estate.

Proceedings
of Committee.

Sec. 9. And be it enacted, That the mode of pro-
ceeding of said Arbitration Committee shall be