THOMAS W. VEAZEY. ESQUIRE, GOVERNOR.

1858.

CHAPTER £26.

•HAP. 226.

An act for the benefit of the Commercial Bank of Mil-
lington, in Kent County.

Passed Mar. 20.
1837.

WHEREAS, it has been deemed advantageous by the
stockholders of the Commercial Bank of Millington,
that the affairs of the bank should be settled and the
corporation dissolved, and to that end have petitioned
the Legislature of Maryland, — Therefore;

Preamble

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the said Commercial Bank of Mil-
lington, shall after the passage of this act, have no
power or authority to discount any new paper, but may

Restricted from
discounting,
except renew-

able

take renewals of paper already discounted, from time
to time, and shall have power and authority to take
bonds or zills, single or penal, for any sums now due
to the bank.

May take bonds
&c.

SEC. 2. And be it enacted. That so much of the
several acts of assembly, which requires the Commer-
cial Bank of Millington to pay the sum of twenty cents
on every hundred dollars of the capital stock actually
paid in, or hereafter to be paid in, is hereby repealed,
and that the said bank shall be released from the pay-

School tax re-
linquished

ment of the said tax from and after the fifteenth of
October, eighteen hundred and thirty-four; provided,
that the said bank shall within thirty days after the
passage of this act, pay to the Treasurer of the Western
Shore all arrearages of said tax which shall have be-
come due and payable and remains in arrear at the
time of such payment

SEC. 3. And be it enacted, That the president and di-
rectors shall hereafter have power to sell and dispose
of, either at public or private sale, all the real and per-
sonal estate of said bank.

Authorised to
sell all estate

of

SEC. 4. And be it enacted, That when the debts due
from the said bank are paid and discharged, it shall be
the duty of the president and directors to make divi-
dends of the funds of the bank which they, may have
received, among the stockholders, every year.

Dividends

SEC 5. And be it enacted, That the president and
directors shall have power to dismiss the cashier, and
such other officers as they shall deem necessary, and
32

Dismiss cashier