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CHAP. 86.
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CHAPTER 86.
AN ACT to add an additional Section to Chapter 52 of the
Acts of 1896, entitled "An Act to incorporate the United
States Fidelity and Guaranty Company," authorizing the
said United States Fidelity and Guaranty Company to
increase its capital stock to an amount not exceeding one
million dollars in excess of its present capita] of one
million five hundred thousand dollars.
SECTION 1. Be it enacted by the General Assembly of
Maryland, That an additional section be added to chapter 52
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New section
added.
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of the Acts of 1896, to be known as Section 15 B, and to
follow section 15 A, as enacted by section 2 of chapter 188 of
the Acts of 1898, which additional section shall read as
follows :
15 B. The said company shall have the right to increase its
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Capital stool
to be
increased.
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. capital stock to an amount not exceeding the sum of one
million dollars ($1,000,000) in addition to its present capital
of one million five hundred thousand dollars ($1,500,000), as
provided for in chapter 52 of the Acts of 1896, as amended
by chapter 188 of the Acts of 1898, so that said company
may have a total capital stock not exceeding two million five
hundred thousand dollars ($2,500,000), or said company may
increase said capital stock to any portion of said sum of one
million dollars, the said increase to be made in shares at the
par value of one hundred dollars ($100) each, as provided for
in said chapter 52 of the Acts of 1896 ; and the clause in
section 2 of said chapter 52, providing that the stockholders
of said company at the time of increase shall be entitled to a
pro rata share of such increase upon payment of the par
value of the same, shall not apply to this present authorized
increase of one million dollars or any part thereof, and the
said stockholders shall not be entitled to a pro rata share of
such increase.
SEC. 2. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved March 20, 1902.
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