590

LAWS OF MARYLAND.

Howard county, to St. Mary's catholic church at Laurel, Prince

To give

George's county, Maryland, as per will recorded among the will

sanction.

records of said Howard county.

SEC. 2. And be it enacted, That the sanction of the General

Assembly of Maryland is hereby given and granted to the ac-

quisition by the several religious sects, orders and denominations.

above named at any time hereafter whether by gift, grant or

devise of the fee-simple title to the lots above-mentioned in which

To bequest

they are respectively entitled to a leasehold interest, by virtue of

the several deeds above mentioned, and by virtue of the sanction

heretofore given by the first sanction of this act.

Effective.

SEC. 3. And be it enacted, That this act shall take effect from

the date of its passage.

Approved April 8, 1890.

CHAPTER 526.

AN ACT to amend the charter of the Bel Air trust, security and

insurance company of Harford county.

SECTION 1. Be it enacted by the General Assembly of Maryland,

That the name of the Bel Air trust, security and insurance com-

To change

pany of Harford county, a corporation duly formed under the

name.

provisions of article twenty-three, of the Code of Public General

Laws of the State of Maryland, title "Corporations," be and the

same is hereby changed to that of the Bel Air trust and insurance

company.

SEC. 2. And be it further enacted, That the charter of said

To amend

company as set out in its certificate of incorporation shall be

amended and altered so as to conform to the terms and provisions

of this act.

SEC. 3. And be it further enacted, That the number of directors

of said company shall be increased from five, as stated in said

certificate of incorporation, to seven, and said company is hereby

authorized to begin business when at least fifty thousand dollars

($50,000,) of its capital stock shall have been subscribed and one-

half of the amount so subscribed shall have been paid up in cash,

the balance so subscribed to be paid in five equal monthly instal-

To begin

ments from the date of beginning business as aforesaid, and when

business.

ten per centum of said stock so subscribed shall have been paid

in cash and not before, the said five directors may elect the

additional two directors required to fill up said board of seven

directors, and said seven directors shall serve until the ensuing

annual election or until their successors shall be duly elected and

qualified, and no stockholder shall be elected a director unless he

is a bona fide owner of at least ten shares of said capital stock.