546

LAWS OF MARYLAND.

CHAP. 381

assent thereto, or shall be dissatisfied therewith and signify his
or her dissent by notice in writing, served on the president,
secretary or treasurer of the company into which such consoli-
dation and merger shall have been made at any time within
three months after the vote for the same, he or she shall receive
from the company into which the consolidation and merger shall
have been made a fair value of his or her stock at the time when
the vote for the agreement of consolidation and merger was
passed, which, if not agreed on, shall be appraised by three
disinterested persons, residents in this State, one to be selected
by person failing to assent to the agreement of consolidation,
one to be selected by the company forming the said consoli-
dated company, and the third to be selected by the two persons
selected as aforesaid, and thereupon and upon the payment of
the value so ascertained, such stockholders shall deliver up
his or her certificate of stock, if any such has been issued,
and the said company into which the consolidation and merger
shall have been made may reissue the same amount of stock
to any other person or persons.

May borrow
money, issue
bonds, etc.

SEC. 11. And be it enacted, That the president and direc-
tors of the said company may borrow from time to time, for
the corporate purposes of said company, such amounts of
money as they may deem proper, and provide for the payment
of the same and the interest thereon by H mortgage or other-
wise ; and may issue bonds for the same and provide for the
payment of the principal and interest thereon in such away as
they may deem proper. The said president and directors may
also issue certificates of stock of the said company and make
all proper and necessary provisions for the payment of divi-
dends thereon ; provided, that the bonded indebtedness of the
said company secured by a mortgage shall not exceed in the
aggregate the amount of the capital stock of said company.

SEC. 12. And be it further enacted, That this Act shall take
effect from the date of its passage.
Approved April 11, 1902.