1836.

LAWS OF MARYLAND.

CHAP. 239.
Payment of 20
cents in $100
school tax re-
quired

SEC. 2. And ie it enacted, That the said banks shall,
on the first day of January, in .the year eighteen hun-
dred and thirty-eight, and annually thereafter, during
the continuance of their charters as before provided,
respectively pay to the Treasurer for the Western
Shore, upon their respective capitals which now are or
hereafter shall he paid in, the sum of twenty cents
upon every hundred dollars of said capitals respec-
tively, to be applied by the said Treasurer in augmen-
tation of the free school fund of the State, in the same
manner the similar tax paid by the incorporated banks
in the city of Baltimore is now applied; and in case of

Forfeit charter

the failure of the said banks, or any of them, to make
such payment for the space of six months after the
same shall have become payable, the charters or char-
ter of the said banks or bank so making default, shall
be forfeited, and shall be deemed null and void; but no-
thing herein contained shall be so construed as to re-
quire the said banks, or any of them, to pay to the said
Treasurer, a greater school tax in any one year than
after the rate of twenty cents upon every hundred dol-
lars of capital actually paid in.

Bonus $1 25 in
each $100

SEC. 3. And be it enacted, That the said banks and
every of them, in consideration of the corporate privi-
leges hereby granted, shall pay to the State of Mary-
land, in addition to the twenty cents in the hundred
dollars, as provided for in the preceding section, a
bonus, at the rate of one dollar and twenty-five cents
on every hundred dollars subscribed to the capital stock
of said banks respectively; the said payments to be
made to the Treasurer for the Western Shore, in three

In three instal-

ments

equal annual instalments, commencing with the first
instalments on the first day of January, eighteen hun-
dred and thirty-eight, and a further bonus after the

At that rate for
all additional
capital

rsame rate upon every hundred dollars of capital stock
of said banks which shall be hereafter subscribed, un-
der the provision of the acts of Assembly incorporat-
ing said banks respectively, or the supplements there-
to, the said further bonus to be paid on the first day of

Forfeit for de-
fault

January, next after receiving such subscriptions; and
in case of the failure of said banks, or any of them,
to make such payments as are by this section required
to be made by them respectively, the banks or bank so
making default, shall forfeit all benefit or advantage