332

LAWS OF MARYLAND.

dends of the profits of the corporation annually or
semi-annually, as they may deem best; and in case
of any loss or losses whereby the capital shall
be diminished no subsequent dividend shall be
made until a sum equal to such diminution
arising from the profits of the corporation or con-
tributions of the stockholders shall be added to the
capital.

May pass by-
laws, &c.

Sec. 8. And be it enacted, That the President,
Vice President and Directors of the corporation
hereby created shall have power to enact and adopt
such rules, regulations and by-laws for the gov-
ernment and management of the affairs of said

Proviso.

corporation as they may deem advantageous to the
interest thereof; provided, the same be not contrary
to the law of the land.

May purchase
and sell.

Sec. 9. And be it enacted, That said corpora-
tion may purchase and hold, and again sell and
dispose of, real estate to the value of fifty-thousand
dollars.

Banking priv-
ileges prohibit-
ed.

Sec. 10. And be it enacted, That nothing herein
contained shall be taken or construed to give the
corporation hereby created the power to issue or
circulate as currency any bill, note, token or evi-
dence of indebtedness of its own creation.

Reservation.

Sec. 11. And be it enacted, That the General
Assembly reserves the right to repeal, alter or
amend this act at its pleasure.

In force.

Sec. 12. And be it enacted, That this act shall
take effect from and after its passage. And the
said corporation shall have no power to do any-
banking business under this act, nor to buyer sell,
or discount negoci'able paper or bank notes, or to
loan money, but may invest money in public
securities.