THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835,

change now are, and those which are payable to bearer

shall be negotiable or assignable by delivery only.

CHAP. 287

ART. 17. That the shares of capital stock of the

Transfer of stock

said bank shall be transferable on the books of the said

hank only, according to such rules as shall be estab-

lished by the president and directors; but all debts

actually due and payable to the bank by a stockholder

requesting a transfer, must be satisfied before such a

transfer shall be made, unless the president and direc-

tors shall order to the contrary.

ART. 18. No loan shall be made by the said cor-

Limit as to loans

poration for the use or on account of this State, nor

to any other State of this Union, nor to the United

States, to an amount exceeding fifty thousand dollars,

nor to any Foreign Prince or State, to any amount

whatever, without the previous consent of the Legisla-

ture; and the capital stock and funds cf the said

Capital is personal

bank, shall be deemed and taken to be personal and

estate

not real estate.

ART. 19. The president and directors for the time

Notice of election

being, shall give six weeks public notice in the sever-

of directors

al daily newspapers published in the city of Baltimore,

of the time and place of holding the annual election of

directors, and may appoint the judges of such election.

SEC. 10. And be it, enacted, That on the first Mon-

Pay 20 cts. on $100

day of January, subsequent to the organization of the

School tax

said bank, and on the same day annually thereafter,

the said bank shall pay or cause to be paid to the Trea-

surer of the Western Shore of the State of Maryland,

the sum of twenty cents on every one hundred dollars

of the capital of said bank, then actually paid in, to be

applied by said Treasurer in augmentation of the free

school fund of the State, in the same manner as simi-

lar tax, paid by the other incorporated banks of the

city of Baltimore, is now applied: and in case of the

On faiilure to forfeit

failure of the said bank to make such payment for the

space of six months after the, same shall have become

payable, this charter shall be forfeited and shall be

deemed null and void.

SEC. 11. And be it enacted, That the said corpora-

Bonus

tion, or the president and directors thereof, shall in

consideration of the corporate privileges hereby grant-