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Session Laws, 1929
Volume 572, Page 720   View pdf image (33K)
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720 LAWS OF MARYLAND. [CH. 226

165. The payment of the unpaid installments and the
premiums on the share or shares so purchased or redeemed,
with interest on the money paid therefor as aforesaid, and all
fines and penalties incurred in respect thereof by any member,
shall be secured to such corporation, by mortgage on real or
leasehold property, or by the hypothecation of stock of such
corporation held by such member or by judgment of a court
of law or by a justice of the peace or by a decree of a court of
equity all as may be provided in the articles of association or
by-laws; but in no case of hypothecation of stock no greater
sum of money shall at any time be drawn out by any member
than shall have been already paid in by him on all his shares
at the time of said hypothecation, and all homestead or build-
ing associations organized under the Laws of this State are
hereby prohibited from investing in any other manner than in
cash, fixtures, or loans on hypothecated stock of such association,
judgments or decrees for payment of money received by courts
in this State, mortgages on real or leasehold estates situate in
this State and bonds of the United States and of this State.

198. The capital stock of such company shall be divided
into shares of fifty dollars each, and consist of such sum as
may be named in the certificates; such shares shall be regarded
as personal property, and shall be subject to execution at law.

259. Every railroad company of this State, heretofore or
hereafter incorporated, may in its discretion and from time to
time, make use of any motive power or motive powers, on the
whole or any part or parts of its road, for the purpose of opera-
ting its road or any part or parts thereof, or for the movement
of all or any of its cars or trains; provided, however, that the
provisions of this section shall not authorize any railroad com-
pany to operate its cars or trains by steam or other power along
the streets, of any city or town, or along any public road, with-
out the consent of the proper municipal or county authorities.

421. The original articles of incorporation of an associa-
tion organized under this sub-title, or a true copy thereof veri-
fied as such by the affidavits of two of the signers thereof shall
be filed with the State Tax Commission who shall record and
transmit a copy in all respects as provided in Section 6 of this
Article for other corporations.

SEC. 6. And be it enacted, That Section 7 of Article 25
of the Code of Public General Laws of Maryland (1924),


 

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Session Laws, 1929
Volume 572, Page 720   View pdf image (33K)
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