1838.

LAWS OF MARYLAND.

CHAP. 298.

CHAPTER 298.

Passed Mar. 14,
1839.

A supplement to an act, entitled, an act to incorporate
the Baltimore Musical. Association.

May borrow $30, 000.

SECTION l. Be it enacted by the General Assembly of
Maryland, That the Baltimore Musical Association
be, and it is hereby authorized to borrow a sum of mo-
ney not exceeding the sum of thirty thousand dollars,

On certificates of

stock.

for which loan certificates of stock, in shares of twenty
dollars each, shall be given by the corporation, signed
by the president thereof for the time being, and coun-
tersigned by the treasurer of said corporation, and
such loan shall be redeemable at the pleasure of the
corporation, and shall be declared so to bo upon the
face of the certificates of shares in said loan.

May hold real es-
tate.

Limit $30, 000.

Personal $50, 000.

Sec. 2. And be it enacted, That the said corporation
shall be capable of holding real and leasehold estate to
an amount not exceeding in the whole, the sum of
thirty thousand dollars in value, at the time of its ac-
quisition by the said corporation, and shall also be
capable of holding personal estate to an amount not
exceeding at any one period the sum of fifty thousand
dollars at the cost value of said estate.

Transfers.

Message loan, &c.

Sec. 3. And be it enacted, That the said corporation
may provide by its by-laws for the transfer of shares
in said loan, and for the rate of interest not exceeding
six per cent per annum, to be paid for said loan, and
for all other matters appertaining to said loan, or the
redemption thereof, and for all matters incidental to
the management, sale, or other disposition of its real,
leasehold, or personal estate.

Repealing clause.

Sec. 4. And be it enacted, That so much of the act of
eighteen hundred and thirty four, chapter forty-one, as
may be inconsistent with, or repugnant to the provi-
sions of this act be, and the same is hereby repealed.