THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

18S5.

ART. 17. The shares of the capital stock of said

CHAP. 314

bank shall be transferable on the books of the said

Transfer of stock

bank 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 be satisfied before such

transfer shall be made, unless the president and direc-

tors shall direct to the contrary...

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

Limit as to loan

ration for the use or on account of this State, or the

United States, to an amount exceeding fifty thousand

dollars, nor to any other State of this Union, or to

any foreign prince or state, to any amount whatever,

without the previous consent of the legislature; and

the capital stock and funds of 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 seve-

ral newspapers published in the city of Baltimore,

of the time and place of holding the annual elec-

tion of directors; and may appoint the judges of such

elections.

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

Pay 30 cts. on $100

day of January next, following 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, actually paid

in; to be applied by said treasurer in augmentation of:

School tax

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

as the similar tax, paid by the other incorporated

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

On failure.to forfeit

case of the failure of the said bank to make good such

payment, for the space of six months after the same

shall become payable, this charter shall be forfeited,

and shall become null and void.

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

Bonus

tion, shall in consideration of the corporate privileges

hereby granted, pay to the State of Maryland, in addi-

tion to the twenty cents on the hundred dollars, as

provided for in the preceding section, a bonus of eigh-