BANKS AND TRUST COMPANIES 439

of his knowledge and belief, is the real bona fide owner of said stock, having
acquired the same, as the case may be, by inheritance, bequest, marriage,
distribution or gift; provided, however, that this provision shall apply only
to such shares of stock in the corporations aforesaid as shall appear to have
been transferred upon the books of the corporation within one year next
preceding the meeting at which it is offered to vote upon them; and pro-
vided further, that nothing in this article shall prevent a stockholder whose
shares of stock shall be in good faith pledged for a loan from voting his or
its stock so long as the same has not been actually sold.

An. Code, 1924, sec. 80. 1912, see. 77. 1910, ch. 219, sec. 76 (p. 32).

106. Any person who shall wilfully or maliciously instigate, make, cir-
culate or transmit to another or others any statement, untrue in fact,
derogatory to the financial condition or affecting the solvency or financial
standing of any bank, savings institution or trust company doing business
in this State, or who shall counsel, aid, procure or induce another to start,
transmit or circulate any such statement or rumor, shall be guilty of a mis-
demeanor and, upon conviction thereof in any court of competent juris-
diction, may be fined a sum not exceeding one thousand dollars, or be
imprisoned for a period not exceeding three years.

An. Code, 1924, sec. 82. 1912, sec. 79. 1912, ch. 194, sec. 2.

107. All acts and parts of acts of which the Act of 1912, Chapter 194,
is amendatory, and all acts and parts of acts inconsistent with the provi-
sions of said act are hereby repealed; and also all charters of institutions
which are subject to the provisions of said act heretofore granted by the
General Assembly of Maryland where the franchises shall not have been
availed of to the extent of forming a complete organization and establishing
an office by the first day of January, 1914, are hereby repealed.

Bank Collection Code.

An. Code, 1924, see. 83. 1929, ch. 454, sec. 83.

108. (Definitions.) For the purposes of The Bank Collection Code:
(A) (Bank.) The term "bank" shall include any person, firm or corpo-
ration engaged in the business of receiving and paying deposits of money
within this State. A branch or office of any such bank shall be deemed
a bank for the purpose of this sub-title.

(B) (Item.) The term "item" means any check, note or other instru-
ment providing for the payment of money.

Sees. 108-124 referred to in construing secs. 29 and 54. Dean v. Eastern Shore Trust
Co., 159 Md. 218.
Secs. 108-124 cited in Ghingher v. Finance Co., 168 Md. 563.

An. Code, 1924, sec. 84. 1929, ch. 454, sec. 84.

109. (Bank is Agent for Collection.) Except as otherwise provided by
agreement and except as to subsequent holders of a negotiable instrument
payable to bearer or endorsed specially or in blank, where an item is
deposited or received for collection, the bank of deposit shall be agent of
the depositor for its collection and each subsequent collecting bank shall
be sub-agent of the depositor but shall be authorized to follow the instruc-
tions of its immediate forwarding bank and any credit given by any
such agent or sub-agent bank therefor shall be revocable until such time
as the proceeds are received in actual money or an unconditional credit