JAS. BLACK GROOME, ESQUIRE, GOVERNOR

85

5. On the first Monday of January annually, each

Tax on circu-

of the said corporations, shall pay or cause to be paid
to the Treasurer of the State of Maryland, the sum

lation of banks.

of twenty cents on every hundred dollars, of the issue

of notes then in actual circulation, which it shall be

lawful for the corporation to issue, as provided for in

the fifth article of the aforesaid act of eighteen hun-

dred and fifty-three, chapter four hundred and forty-

one, to be applied by the said Treasurer in aug-

mentation of the free school fund of the State, and in

case of the failure of any of the corporations to make

such payment for the space of six months after the

same shall have become payable, their charter shall

be forfeited and shall be deemed null and void as to

such corporation.

SEC. 2. And be it enacted, That section nine of said

Repealing and

act of eighteen hundred and fifty-three, chapter four
hundred and forty-one, entitled, " an act to continue

re-enacting.

the corporate existence of the several banking insti-

tution therein mentioned," be and is hereby repealed

and re-enacted with amendments so as to read as fol-

lows :

9. The continuance of the several corporations,

Stockholders

shall be on the condition that the stockholders of

liable

each of said corporations, shall be liable to the amount

of their respective share, or shares of stock in such

corporations for all its debt and liabilities, upon

note, bill, or otherwise, and upon this further condi-

tion, that this act, and every part of it may be altered

from time to time, or repealed by the Legislature.

SEC. 3. And be it enacted, That any and all acts, or

part of act, or acts, inconsistent with the provisions

Repealed

of this act, be and are hereby repealed.

SEC. 4. And be it enacted, That this act shall take

effect from the date of its passage; provided, that the

In force

stockholders of each of said corporations, shall at a

general meeting called by the Board of Directors.

giving at least six weeks' notice assent to, and adopt

this act by the vote of a majority of the stock repre-

Proviso

sented at such meeting in person or by proxy, which

assent and adoption shall be certified by a majority

of the Directors, under the seal of the respective cor-