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LAWS OF MARYLAND.

consolidating, or with the assent in writing of such majority

in interest. The corporation so formed by such consolidation

shall, when such consolidation shall have been completed as

hereinafter referred to, have all the powers and franchises by

this Act conferred upon the corporation hereby incorporated,

and all the assets and property of every kind of all the cor-

porations so consolidating or uniting shall, upon the com-

pletion of such consolidation, be assigned and conveyed by

such constituent corporations to such consolidated corporation.

And such consolidated corporation shall be liable for all the

debts, contracts and engagements of the said constituent cor-

porations as fully and to the same extent as such constituent

corporations have been liable therefor at the time of the con-

Certificate of

solidation. As soon as such consolidation shall have been de-

consolidation.

termined upon, the corporations so uniting or consolidatirig

shall execute a certificate of consolidation, signed by their

proper officers, respectively, under their respective corporate

seals, setting forth the terms of said consolidation; the said

certificate shall be filed in the office of the Secretary of State,

and when said certificate shall be filed the said consolidation

shall be considered completed.

SEC. 20. And be it enacted, That said corporation shall be

Subject to cer-
tain pro-

subject to the provisions of each of Chapters 109 and 279 of
the Acts of the General Assembly of Maryland, passed at

visions.

the January Session of 1892, and all amendments and sup-

plements thereto; provided, that such corporation shall not

be required to deposit bonds with the Treasurer of this State,

unless or until it exercises such powers conferred by this

Act as will bring it within the requirement of law to make

such deposit.

SEC. 21. And be it enacted, That any officer, agent or em-

ployee of said corporation who shall apply any of the deposits

of any kind of said corporation to his use, or to the use of

Missapplying

any person or persons not entitled thereto, without the con-

funds by of-

sent of the owner of such deposits, shall be deemed guilty of

ficers, etc.,
and penalty

embezzlement, and upon conviction thereof, in any court of

therefor.

this State, shall be punished by imprisonment in the peniten-

tiary of this State for a term of not less than one, nor more

than ten years, and shall be responsible in any suit in law for

all injury, loss, expense or damage incurred by reason of his

prosecution, or in consequence of said act. either to said cor-

poration or to any party aggrieved, damaged or injured thereby.

SEC. 22. And be it enacted, That this Act shall take effect

from the date of its passage.

Approved April 12, 1904.