|
Chapter 485.
|
|
|
|
AN ACT to prohibit the creation in future of irre-
|
|
|
|
deemable ground-rents, and to regulate the leasing
|
|
|
|
of land.
|
|
|
|
SECTION 1. Be it enacted, That all leases or sub-
|
|
|
|
leases of land hereafter made in this State, for a longer
|
|
|
|
period than fifteen years, shall be redeemable at any
|
|
|
|
time after the expiration of fifteen years at the option
|
|
|
|
of the tenant, for a sum of money equal to the capi-
|
|
|
|
talization of the rent reserved at the rate of six per
|
Leases of land
redeemable.
|
|
|
centum in gold coin of the United States, or its equiv-
|
|
|
|
alent, unless some other sum not exceeding four per
|
|
|
|
cent, capitalization of said rent in said coin shall be
|
|
|
|
specified in said lease, in which event said rent shall
|
|
|
|
be redeemable for the sum fixed in said lease or sub-
|
|
|
|
lease.
|
|
|
|
SEC. 2. And be it enacted, That this act shall take
|
Effective.
|
|
|
effect from the date of its passage.
|
|
|
|
Approved April 8, 1884.
|
|
|
|
Chapter 486.
|
|
|
|
AN ACT to provide for the proper maintenance and
|
|
|
|
repair of wharves, piers and other landings.
|
|
|
|
SECTION 1. Be it enacted by the General Assembly
|
|
|
|
of Maryland, That any person or persons, or any cor-
|
|
|
|
poration who shall be the owner or lessee under an
|
Keep wharves
|
|
|
agreement to keep in repair any wharf, pier or landing
|
in repair.
|
|
|
projecting into or bordering upon any navigable waters
|
|
|
|
within the state of Maryland whose passengers are
|
|
|