FRANCIS THOMAS, ESQUIRE, GOVERNOR.

1841.

CHAPTER 282.

Chap. 282

An act to authorize the licensing of Stock Brokers, Ex-
change Brokers and Bill Brokers, and to regulate con-
tracts for the purchase and sale of Loans and Stocks.

Passed March

8, 1842.

Section 1. Be it enacted by the General Assembly of Ma-
ryland, That from and after the first day of July, one thou-
sand eight hundred and forty-two, when any individual,
co-partnership or firm, in this State shall have paid the sum
of one thousand dollars to the clerk of the county in which
said individual, co-partnership, or firm may reside, to be
paid by the said clerk to the State treasurer for the use of
the State, with a view to the use or exercise of the busi-
ness or occupation of a stock broker, the clerk of the said
county shall thereupon grant to such individual, co-partner-
ship or firm, a licence under the seal of said county, au-
thorizing him, her, or them, to purchase and sell as agents
or for the use and benefit of others in the county to be de-
signated in said license, for such brokerage, commission, or
other compensation as may be agreed upon between the
parties, any public loan or stock, and the stock of corpo-
rations, institutions, and companies, or other securities in
the nature thereof that have been or may be hereafter au-
thorized by or under any law of the United States, or any
separate State or Territory of the United States, and gen-
erally to do and perform all other acts and tilings, incident
to the business of the stock broker, for the term of one
year from the date of such license.

Licenses
granted.

Sec. 2. And be, it enacted, That from and after the first
day of July aforesaid, when any individual, co-partnership,
or firm in this State shall have paid the sum of three thou-
sand dollars to the clerk of the county, in which said indi-
vidual, co-partnership or linn may reside to be paid by the
said clerk to the Stale treasurer for the use of the State,
with a view to the use and exercise of the business and oc-
cupation of an exchange broker, the clerk of said county
shall thereupon grant to such individual, co-partnership or
firm, a license under the seal of said county, authorizing
him, her or them in like manner to purchase and sell the
hills, notes or other legal obligations of any authorized cor-
poration, institution, or company, domestic and Foreign bills
of exchange, bank notes and other securities in the nature
thereof (public loans and stock excepted, ) and generally to
do and perform all other lawful acts and things incident to
the business or occupation of an exchange broker for the
term of one year from the date of such license.
21

Three thou-
sand dollars
to be paid.