742. LAWS OF MARYLAND. [CH. 310

created prior to the retirement of the stock acquired from them
by reduction of the amount of issued stock of the corporation,
in the manner provided by law.

(7) No corporation of this State shall purchase or redeem
shares of its own stock for any unlawful purpose whatsoever,
or purchase or redeem shares of its own stock when the prob-
able effect of such purchase or redemption would be to preju-
dice the rights of existing creditors.

(8) Nothing in this section shall be taken or construed as
limiting or affecting the liability of stockholders in banking,
safe deposit, trust or loan corporations.

SEC. 6. And be it further enacted, That nothing in this
Act shall be taken or construed as affecting the existence of any
corporation existing on June 1, 1922, or as impairing the
validity of any corporate act done or performed in conformity
with the pre-existing law; and nothing in this Act shall release
any corporation from the payment of any tax or the perform-
ance of any obligation to the State or to any county or city
therein due or existing on June 1, 1922, or affect or change
the remedy for the collection or enforcement of the same; and
nothing in this Act shall release, affect or impair the rights
of any creditor of any corporation, or the obligations or lia-
bility of any corporation or of any stockholder, director or
officer of any corporation existing on June 1, 1922, or affect
or change the remedy for the collection or enforcement of the
same.

Approved April 13th, 1922.

CHAPTER 310.

AN ACT to authorize the creation of a State debt in the aggre-
gate amount of one million dollars ($1,000,000), the pro-
ceeds thereof to be used for the construction of a direct road
from Southern Maryland to Baltimore City, to be known as

the "Baltimore-Southern Maryland Trunk Line," and pro-
viding generally for the issue and sale of certificates of in-
debtedness evidencing such loan.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That, in order to provide for the construction of a direct
road from Southern Maryland to Baltimore City, a loan is