1835.

LAWS OP MARYLAND.

their order, shall he assignable by endorsement in like

CHAP. 313.

manner and with the like effect as foreign bills of ex-

change now are, and those wh:ich are payable to bearer

shall be negotiable or assignable by delivery only.

Transfer of stock

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

said bank shall be transferable on the books of the said

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

blished by the president and directors; but all debts

actually due and payable to the bank, by a stockholder

requesting a transfer, must he satisfied before such a

transfer shall be made, unless the president and direc-

tors shall order to the contrary.

Limit as to loan

AET. 18. No loan shall he made by the said corpo-

ration 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 legislature: and

the capital stock and funds of the said bank, shall be

deemed a'nd taken to be personal, and not real estate.

Notice of election of directors

ART. 19. The president and directors for the time

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

ral daily; newspapers published in the city of Balti-

more, of the, time and place of holding the annual elec-

tion of directors; and may appoint the judges of such

elections.

Pay 20 cts, on $100

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

day of January, subsequent to the organization of 'the

said bank, and on the same day annually thereafter,

the said bank shall pay or cause to be paid, to the

treasurer of the Western Shore, of the State of Mary-

land, the sum of twenty cents on every one hundred

dollars of the capital of said bank, then actually paid

School tax

in; to be applied by said treasurer in augmentation of

the Free School Fund of the State, in the same manner

as the similar tax, paid by the other incorporated

Oil failure, to forfeit

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

case of the failure of the said bank to make such pay-

ment, 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.

Bonus

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

tion, or the president and directors thereof, shall in