THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

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

CHAP. 298.

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 al to loin

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

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

States, to an amount exceeding fifty thousand dol-

lars, nor to any Foreign Prince or State, to any

amount whatever, without the previous consent of the

Legislature; and the capital stock and funds of the

said bank, shall be deemed and taken to be personal

and not real estate.

ART. 19. The president and directors for the time

Notice of election of directors

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

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 elections.

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

Pay 20 cts, on $100

day in 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 hundred dollars

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

applied by said Treasurer in augmentation of the free

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

lar tax, paid by the other incorporated banks in the

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

On failure 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-

ed, pay to the State of Maryland, in addition to the

twenty cents on each one hundred dollars, as provided

for in the preceding section, a bonus of nine thousand

54