LAWS OF MARYLAND.

1844.

it would be beneficial to the stockholders in said institu-
tion, and advantageous to the public in general, to subdi-
vide the shares of the capital stock thereof, now fixed by
the act of incorporation at three hundred dollars, into
shares of one hundred dollars, and have prayed that an act

CHAP. 177.

may be passed for that purpose.
Section 1. Be it enacted by the General Assembly of
Maryland, That from and after the passage of this act,
and the assent of the stockholders thereto, as hereinafter
provided, each and every share of capital stock of the
President, Directors and Company of the Bank of Baltimore,
shall be subdivided into three shares of one hundred dol-
lars each, any thing in the act of incorporation, or in any
supplement thereto, to the contrary in any wise notwith-

Capital stack
of Bank of
Baltimore sub-
divided.

standing.
SEC. 2. And be it enacted, That the number of votes,
to which each stockholder shall be entitled, shall be ac-
cording to the number of shares he shall hold, in the pro-
portion mentioned and provided for by the first fundamen-
tal article of said act of incorporation; provided, that every
ten shares above one hundred, shall be entitled to one vote,
but that no person or body politic shall be entitled to a

Votes of
stockholders.

Proviso.

greater number than sixty votes.
SEC. 3. And be it enacted, That this act shall be con-
sidered in full force and virtue, as soon as the president
and directors of said bank, shall by resolution authorised
at a general meeting of the stockholders, to be called for
that purpose, declare their acceptance thereof, and trans-
mit to the Treasurer of the Western Shore, a copy of said
resolution, certified under the common seal of said corpo-
ration.

Full force and
virtue.