LLOYD LOWNDES, ESQUIRE, GOVERNOR.

statement and recommendations is signed by any signer who
shall have so signed more than three such statements and recom-
mendations, under a penalty of not less than twenty-five dollars,
tj be recovered before a justice of the peace, as other similai
fines are recovered. Third. The applicant shall, at the same
time, also file with the said clerk, a bond, with security, to be
approved by said clerk, in the penal sum of five hundred
dollars, for the faithful performance of the matters and things
stated in his application, and for the payment of all fines, pen-
alties and costs which may be imposed upon such applicant
for the violation of this or any laws relating to or regulating
or providing for the sale of liquors aforesaid. And no licensee
under this sub-title of this article shall be permitted to open
his place or sell any liquors therein between the hours of
twelve o'clock, midnight, and five o'clock, A. M.

241

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

Approved April 2d, 1896.

CHAPTER 160.

AN ACT to repeal section 85 E of the Code of Public Gen-
eral Laws, Article 23, title "Corporations," sub-title "General
Regulations," as enacted by the Act of 1892, Chapter 109,
and re-enact the same with amendments.

Effective.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That section 85 E of the Code of Public General Laws,
Article 23, title "Corporations," sub-title "General Regula-
tions," be and the same is hereby repealed and reenacted,
so as to read as follows :

Repeal.

85 E. Every such corporation transacting as part of its busi-
ness the security or guarantee business shall, within six months
from the passage of this act, and from time to time thereafter,
if need be, transfer and assign to the said Treasurer registered
public stock of the United States or of the State of Maryland,
or of Baltimore city, or the bonds of any county or municipal
corporation of this State, which shall be approved by said
Treasurer to the amount in value of one hundred thousand
dollars, and said amount shall be at all times maintained by
said corporation; which stock must be registered in the name
of said Treasurer, officially, as held in trust under and pursu-

Deposits by
guarantee
companies
with State
treasurer.