356

LAWS OF MARYLAND.

and each director who shall be present at the making or de-

claring such dividend shall be deemed to have consented there-

to, unless he shall immediately enter his dissent in writing on

the minutes of the proceedings of the board, and give public

notice to the stockholders that such dividend has been declared.

SEC. 12. And be it enacted, That the lands, tenements and

lawful for
said corpora-

hereditaments, which it shall be lawful for said corporation to

tion to hold.

hold, shall be only such as shall be requisite for its immediate

accommodations in relation to the convenient transaction of

its business, or such as shall have been bona fide mortgaged

or conveyed to it by way of security or satisfaction of debts

contracted in the course of its dealings, or purchased at sales

upon judgments or decrees which shall have been obtained

for such debts or foreclosures of mortgages, or at mortgagee's

sale or sales in case where mortgages conferring power on the

mortgagees to sell the real estate mentioned therein, shall have

been executed or assigned to such bank to secure such debts.

SEC. 13. And be it enacted, That the shares of the capital

Shares of capt-

stock of said corporation shall be transferable on the books

transferred.

of the corporation, only according to such rules as shall be

established by the president and directors ; but all debts pay-

able to the corporation by a stockholder requesting a transfer

of shares, must be satisfied before such transfer shall be made,

unless the president and directors shall direct to the contrary.

SEC. 14. And be it enacted, That it shall not be lawful for

Lawful cur-
rency of the

the said corporation to make discounts in or pay out any funds

United

or money other than gold or silver coin, the lawful currency of

States.

the United States, notes of their banking institutions received

at their par value by the banks paying them out.

SEC. 15. And be it enacted, That if at any time the said

Neglect or re-

corporation shall neglect or refuse to pay in gold or silver or

fusal to pay
in lawful

lawful money of the United States, any of its notes, bills or

money.

obligations, or money received on deposit, in violation of the

promise, contract, or undertaking of said corporation, the per-

son or persons entitled to demand and receive such payment,

shall respectively receive and recover interest on said bills,

notes, obligations and deposits, until the same shall be fully

paid and satisfied, at the rate of six per cent, per annum, from

the time of such demand.

SEC. 16. And be it enacted, That the said Bank of Delmar

Assignment of

may purchase and take an assignment of any mortgage of

mortgage.

any building or land association, or any corporation or indi-

vidual, and shall hold the said mortgage with all the rights,