66

LAWS OF MARYLAND

and also to make such new by-laws, rules and
regulations as the holders of a majority of the
whole number of shares of the stock shall assent

Proviso.

to, which shall be binding on the President and
Directors; provided, such by-laws 'shall not be
contrary to any of the provisions of this charter or
of the laws of this State, or of the United States.

Banking privi-
leges prohibit
ed.

Sec. 7. And be'it enacted, That nothing herein
contained shall be taken or construed so as to au-
thorize the said company to establish a bank, or
to issue any note, scrip or device in the nature of
a currency, or to be used as money.

Property to
revert on ac-
ceptance of this
act.

Sec. 8. And be it enacted, That whenever the
3 corporation now known as The Locust Point Com-
pany of the City of Baltimore, incorporated under
the provisions of the Code of Public General Laws
of the State of Maryland, by an act of incor-
poration, dated the twenty-ninth day of Octo-
ber, eighteen hundred and sixty-four, and re-
corded in the office of the Clerk of the Superior
Court of Baltimore city, shall, at a general meet-
ing of its stockholders, called for that purpose,
express its willingness to accept this charter, -and
the provisions thereof in lieu of that unde'r which
it is now acting and shall execute a declaration to
that effect, signed and acknowledged before a Jus-
tice of the Peace of Baltimore city, by the Presi-
dent and Directors thereof, and file the same, to be
recorded in the office of the Clerk of the Superior
Court aforesaid, the said corporation shall, by
means of said declaration, and the recording there-
of, be deemed and taken to be finally and abso-
lutely dissolved, and all the property, real, per-
sonal and mixed, and rights, privileges and fran-
chises belonging to and vested in said corporation
at the time of the recording of said declaration
shall be deemed and taken to be at once and abso-
lutely vested in the corporation created by this act
to the same effect, and as fully to all intents and
purposes, as if the said property, rights and fran-
chises, and every part thereof had been trans-
ferred, granted and conveyed to the corporation
created by this act, by lawful assignment and
conveyance thereof at the time of the recording of
said declaration; and the stockholders or the par-
ties entitled to stock in the said corporation,
known as The Locust Point Company of the City of