204 LAWS OF MARYLAND. [Ch. 99]

banks and savings institute; said branch bank, or branch
banks, when so established, to have all the powers and priv-
ileges, and be subject to all the liabilities and obligations that
the said Mechanics' Loan and Savings Institute now possesses,
or is subject to, as shown by the provisions of said Chapter 93,
passed in said January session in the year 1860; and also a
shown by the provision's of Chapter 63 passed at the January
session in the year 1902; said branch bank or branch banks to
be organized in the same manner, and conducted along the same
lines as the said Mechanics' Loan and Savings Institute, and
to be managed by the board of directors of said Mechanics' Loan
and Savings Institute, or in conjuction with a separate board
of directors for said branch bank or branch banks as may be
determined by the board of directors of said Mechanics' Loan
and Savings Institute; the said board of directors of said branch
bank, or branch banks, to contain not more than six directors.
The said board of directors of Mechanics' Loan and Savings
Institute shall pass such by-laws as may be necessary to provide
for the organization and management of such branch bank or
branch banks, and for the conduct of the business of said branch
bank or branch banks when organized.

SEC. 2. And be it further enacted, That this act shall takf?
effect from the date of its passage.

Approved April 8, 1912.

CHAPTER 99.

AN ACT to authorize and empower the Mayor and Commission.-
ers of Cambridge, a municipal corporation of the State of
Maryland, to borrow twenty thousand dollars, to be secured
by a bond issue, and providing a tax for the payment of the
interest on said bonds and their redemption, and directing
the mode of spending the money so borrowed.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That the Mayor and Commissioners of Cambridge, a
municipal corporation of the State of Maryland, be and it is
hereby authorized and empowered to borrow a sum of money,
not exceeding in the whole the sum of twenty thousand dollars,
to be evidenced by bonds bearing interest payable semi-annually,
said bonds and every part thereof and the interest thereon being
exempt from all county and municipal taxation in Dorchester
county, whether laid directly or indirectly in the hands of any
corporation or individual holder thereof.