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1844.
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THOMAS G. PRATT, ESQUIRE, GOVERNOR.
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CHAP. 111.
Capital stock.
$25, 000.
Bank not to
exercise the
power without
consent of
stockholders.
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SEC. 2. And be it enacted, That the capital stock of
said bank shall consist of twenty-five thousand shares, each
of the value of ten dollars.
SEC. 3. And be it enacted, That the said bank shall not
exercise the power conferred by the second section of the
act to which this is a supplement, to resume their original
charter and to carry on its banking business without the
consent of a majority, in value of the stockholders express-
ed at a general meeting convened by an advertisement,
which shall express the special object of the meeting, and
be published for at least two months previously thereto.
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Repealed.
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SEC. 4. And be it enacted, That all provisions in any
previous acts relating to said bank inconsistent herewith,
be and the same are hereby repealed.
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Right reserv-
ed.
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Sec 5. And be it enacted, That the Legislature reserves
the right at any time to alter, amend or repeal this law.
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CHAPTER 111.
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Passed Feb.
17, 1845.
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A supplement to an act entitled an art to provide for Specie
Payments by the Banks.
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Issue notes
less than $5,
but not less
than $1.
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SECTION 1. Be it enacted by the General Assembly of
Maryland, That the several banks in this State, shall have
power and authority to issue, reissue, and pay out notes or
certificates of deposit of a less denomination than five dol-
lars, and not less than one dollar.
SEC. 2. And be it enacted, That no bank shall issue or
pay out notes or certificates of deposit, of a less denomina-
tion than five dollars, to an amount greater than ten per cent.
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Proviso.
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of the capital actually paid in; provided, that any bank
may issue such notes to the amount of five thousand dol-
lars.
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Subject to all
penalties &c.
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SEC. 3. And be it enacted, That the several banks shall
be subject to all other provisions, penalties and restrictions
contained in the act to which this is a supplement that are
not inconsistent with the provisions herein contained.
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In force until
1855.
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SEC. 4. And be it enacted, That this act shall be m
force until the year eighteen hundred and fifty-five, and
until the end of the next session of the General Assembly
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Proviso.
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thereafter; provided, nothing herein contained, shall be so
construed as to prevent the repeal of this act, whenever
the General Assembly shall think proper.
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