674

LAWS OF MARYLAND.

to bearer shall be negotiable or assignable by
delivery only.
SEC. 22. And be it enacted, That the shares of

Transferable.

the capital stock of said corporation shall be
transferable on the books of the corporation only
according to such rules as shall be established
by the president and directors, but all debts
actually due and payable to the corporation by
a stockholder requesting a transfer of shares
must be satisfied before such a transfer shall be
made, unless the president and directors shall
direct to the contrary.
SEC. 23. And be it enacted, That no loan shall

Loans.

be made by the corporation for the use of this
state, or the United States, to an amount exceed-
ing five thousand dollars; or to any other state
of this Union, or to any foreign prince or state
to any amount whatsoever, without the pre-
vious consent of the legislature; or to any
one corporation or person an amount exceeding
at any one time ten per cent, of the capital stock
actually paid in; and the capital stock and funds
of said corporation shall be deemed and taken
to be personal, not real estate.
SEC. 24. And be it enacted, That it shall not be

Unlawful to
pay out, etc.

lawful for the said corporation to make discounts
in or pay out any funds or money other than
gold or silver coin, or legal tender notes, the
lawful currency of the United States, notes
issued by the authority of this charter, and notes
of other banking institutions received at their
par value by the banks so paying them out.
SEC. 25. And be it enacted, That if at any time
the said corporation shall neglect or refuse to

Refusal to pay

pay in gold or silver, or lawful money of the
United States, any of its notes, bills or obliga-
tions, or money received on deposit in violation
of the promise, contract or undertaking of the
said corporation, the person or persons entitled
to demand and receive such payments shall re-
spectively receive and recover interest on said
bills, notes, obligations and deposit until the
same shall be fully paid and satisfied at the rate
of six per centum per annum from the time of
such demand.
SEC. 26. And be it enacted, That the said
Garrett county bank may purchase and take an