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LEVIN WINDER, ESQUIRE, GOVERNOR.
dollars of road stock by them subscribed, reserving however
to each of the said banks the choice of one manager, although its
quota of stock may not amount to that sum; which said managers
shall assemble and choose from among themselves a president, and
shall elect a treasurer, and other necessary agents and officers,
and the said president, managers and treasurer, shall in all things
act as such until a president, managers and treasurer, are elected
in the month of October next thereafter, as provided for by the
first section of this act.
See 1815, ch. 115. |
DEC. 1813.
CHAP. 122. |
5. AND BE IT ENACTED, That this road shall
be cleared out,
stoned and made, in the same manner as is the Baltimore and
Frederick-town turnpike road, and shall in no place rise or fall
more than will form an angle of five degrees with a horizontal
line; Provided, that where, in the opinion of the said company,
any part of the said road will not require stoning, and they can
and do, at a diminished expense, make such parts of said road
without stoning, then and in that case they shall be entitled to the
same tolls as if the same had been stoned; Provided, that such
parts of said road be kept in good and sufficient repair, and answer
all public purposes as well as if the same had been stoned. |
Road to be cleared,
&c.
Proviso. |
6. AND BE IT ENACTED, That if the said company
shall not
commence the making of the said turnpike road within two years
from the passage of this act, and shall not complete the same in
eight years thereafter, the right of the said company to the said
road shall revert to the state of Maryland, and the charters of the
said banks are hereby declared to expire. |
Road not being
completed in eight
years right to revert
to state. |
7. AND BE IT ENACTED, That from and after
the first day of
January eighteen hundred and fifteen, and the end of the session
of the general assembly next thereafter, the president, directors
and company, of every incorporated bank in this state,
shall annually, on the first day of January, after the first day of
January eighteen hundred and fifteen, pay, or cause to be paid, to
the treasurer of the western shore of the state of Maryland, the
sum of twenty cents on every hundred dollars of the capital stock
of each bank actually paid in, or which may hereafter be paid in,
and any of the said banks neglecting to make such payment for the
space of six months after the same shall have become payable,
shall thereby forfeit their charters, which shall then be considered
null and void, and no longer continued under the provisions of this
act.
See 1816, ch. 99. |
Capital of Bank
taxed. Banks neglecting
to pay to
forfeit their charters. |
8. AND BE IT ENACTED, That the charters of
such of the banks
of this state as comply with the provisions and conditions of this
act, shall be renewed and continued until the year eighteen hundred
and thirty-five, and the session of the general assembly next
thereafter; and such of the said banks as agree to accept of the
renewal of their charters upon the terms and conditions herein
contained, are required to transmit to the executive of this state a
certificate of such their determination, on or before the first day of
May next, except the banks created this session, which are hereby |
Charters of such'
as accept conditions,
continued. |
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