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Proceedings and Acts of the General Assembly, 1874
Volume 211, Page 3296   View pdf image (33K)
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JAS. BLACK GROOME, ESQUIRE, GOVERNOR. 437

payment and the amount thereof, in two daily news-

Not valid

papers published in the City of Baltimore, with their

 

several oaths appended, that the amount of said in-

 

creased capital has been truly and bona fide paid in,

 

and after ten days from the time of such publication,

 

shall issue certificates of stock to the parties entitled

 

thereto, and such stock so issued shall be valid to

 

all intent and purposes as the first issue of stock

 

under this act.

 

SEC. 18. And be. it enacted, That said bank may

May purchase

purchase and convey real estate as follows :

and convey

1st. Such as shall be necessary for its accommoda-

 

tion in the transaction of its business.

 

2d. Such as shall be mortgaged to it in good faith,

 

by way of security for loans made by the bank or

 

moneys due thereto.

 

3d. Such as shall be conveyed to it in satisfaction

 

of debts previously contracted.

 

4th. Such as it shall purchase at sales under judg-

 

ments, decrees or mortgages held by said bank, and

 

as provided in the succeeding section.

 

SEC. 19 And be it enacted, That the said City Bank

May purchase

of Baltimore may purchase and take any assignment

and take

or any mortgage of any building or land association,

 

or any corporation or individual, and hold the said

 

mortgage with the right to receive the dues, weekly

 

payments, interest, bonus and tines thereon, and to

 

enforce any fine or penalty for the non-payment of

 

the same or either of them, and for the non-perfor-

 

mance or violation of any by-law ; and to enforce any

Enforce

covenant or stipulation in said mortgage; and to

 

foreclose, assign and release the same, and generally

 

to hold the said mortgages with the rights, powers

 

and privileges of the building or land association, or

 

corporation or individual assigning them.

 

SEC. 20. And, be it enacted, That the General As-

Repealed.

sembly may at any time repeal, alter or amend this

 

act at pleasure.

 

SEC. 21. And be it enacted, That this act shall take

 

effect from the date of its passage.

In force.

Approved, April 11th, 1874.

 


 

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Proceedings and Acts of the General Assembly, 1874
Volume 211, Page 3296   View pdf image (33K)
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