338

LAWS OF MARYLAND.

endorsement in like manner and with the like effect

as foreign bills of exchange now are, and those which

Negotiable.

are payable to bearer, shall be negotiable or assign-

able by delivery only.

ART. 13. The shares of capital stock of the corpora-

tion shall be transferable on the books of the corpora-

tion only, according to such rules as shall be established

Shares - hmv

by the president and directors, but all debts actually

transferred.

due and payable to the corporation, by a stockholder

requesting a transfer, must be satisfied before such a

transfer shall he made, unless the president and direc-

tors shall direct to the contrary.

ART. 14. At all meetings of the stockholders of the

corporation, for elections and other purposes no person

shall be allowed to vote on any share or shares of stock

Who to vote.

at such meetings, either in person or by proxy, unless

the said person shall, if required by a stockholder,

make oath or affirmation before the judges of the elec-

tion or other officers of the meeting, that he or she, as

the case may be, is the lawful and bona fide owner of

said stock, having purchased and paid or secured pay-

ment for the same, a full consideration, or received

the same by inheritance, bequest, marriage, distribu-

tion or gift, and without any understanding that the

said stock is to be transferred to the party from whom

it was received, or in case of voting by proxy or power

Make oath.

of attorney, shall make oath or affirmation if required

by a stockholder, that he believes his principal for

whom he offers to vote, bought and paid, or secured

the payment for the said stock, a full consideration, or

that the said principal, to the best 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 only apply
to such shares of stock in the corporation 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.

ART. 15. It shall not be lawful for said corporation

to make discounts in or pay out any funds or money

Must lawful.

other than the legal currency of the United States,

notes issued by authority of its charter, and notes of

other banking incorporations received by it at their

par value.