EDWIN WARFIELD, ESQ., GOVERNOR

939

59D. Any person or persons found guilty of a violation

of any of the provisions of the preceding section shall be
deemed guilty of a misdemeanor and shall, upon conviction

Guilty of
misdemeanor.

thereof, be imprisoned not exceeding six months or fined not

exceeding five hundred dollars, or both or either, at the dis-

cretion of the court; provided, that none of the provisions of

this Act shall apply to Carroll County.

SEC. 2. And be it enacted. That this Act shall take effect

from the date of its passage.

Approved April 8, 1904.

CHAPTER 547.

AN ACT to amend the charter of the Calvert Life Insurance

and Security Company of Baltimore, Maryland, being Chap-

ter 297 of the Acts of the General Assembly of Maryland,

passed at the January Session, 1902.

SECTION I. Be it enacted by the General Assembly of Mary-

land, That Section 2 of Chapter 297 of the Acts of the Gen- c

Calvert Life

eral Assembly of Maryland, passed at the January Session,

Insurance
and Security

1902, being an Act to incorporate the Calvert Life Insurance

Company or
Baltimore.

and Security Company of Baltimore, Maryland, be and the

same is hereby repealed and re-enacted so as to read as follows :

2. The capital stock of said body corporate shall consist of

ten thousand shares of the par value of ten dollars each, with

shares of

the privilege to increase the same from time to time by a vote

capital stock
and their par

of the stockholders at a special meeting or meetings to be

value.

called for the purpose to a sum not exceeding five million dol-

lars, and the incorporators or a majority of them named in

this Act shall have power to open books or subscriptions at

such times and places in the City of Baltimore and elsewhere

as they may deem expedient, and they shall have power to

compel all subscribers to said stock to pay therefore at par

or at such sum above par as they may decide, and when the

par value or such sum above par as may be agreed upon on

any share shall have been fully paid, the same shall thereupon

become non-assessable and non-liable for or on account of any

purpose whatsoever. The said body corporate shall not, how-

ever, begin the prosecution of any business under its charter

until the whole of its said stock to the amount of one hundred

Whole stock

thousand dollars shall have been subscribed and actually paid

must be paid
in.

in cash, and shall have been invested either in securities of the

United States, of the State of Maryland or of the City of Balti-