FRANK BROWN, ESQUIRE, GOVERNOR.

587

Cumberland, Maryland, a body corporate duly incorporated
under the General Incorporation Laws of the State of Mary-
land, be and is hereby authorized and empowered (in the event
of the funds of said association lying idle in its treasury, and
none of its members wishing or desiring to redeem shares of
stock held by them, and said corporation, being unable to loan
said funds on mortgage, as provided by its charter) to loan
money upon promissory notes or single bills, and the time oi
any such loan not to exceed six months, except in case oi
renewal from time to time.

May lend
money upon
notes and

bills.

SEC. 2. And be it enacted, That in case the board of direc-
tors of said association shall be in doubt whether the mortgage
security taken from any member for the redemption of shares
held by such member is at: ample and sufficient security for
said purpose, said corporation shall have power to receive and
take from such member a bond of indemnity, conditioned to
make good any deficiency which may remain in the mortgage
debt in case of default and sale under said mortgage.

Security for
mortgage
debts.

SEC. 3. And be it enacted, That said corporation shall have
power and authority to take and receive a bond of indemnity
from any member giving a mortgage for redeemed stock, con-
ditioned to protect and indemnify said corporation from
mechanics' lien claims on the mortgage premises.

Security for
mechanics'
liens.

SEC. 4. And be it enacted, That this act shall take effect
from the date of its passage.

Approved April 6th, 1894.

CHAPTER 407.

AN ACT to authorize the County Commissioners of St
Mary's County to issue county bonds for the payment of he
current expenses of said County.

Effective.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the County Commissioners of St. Mary's
county be and they are hereby authorized and directed to issue
coupon bonds of said county to an amount not exceeding
twenty thousand dollars ($20,000), in sums of not less than
one hundred dollars nor more than one thousand dollars, to be

May issue
bonds.