1846.

LAWS OF MARYLAND.

CHAP. 122.

ited for the payment of the same, his or her stock, or so
much thereof, as he or she may not have paid the requir-
ed instalment upon, shall be and the same is hereby de-
clared to be forfeited lor the use of said company.

Issues forbid

SEC. 9. And be enacted, That nothing in this act shall
be taken or construed to authorise said company, or the
president and directors thereof to issue any note, certifi-
cate or evidence of debt, to be used as money or curren-
cy, or confer upon it, or them, any banking powers or
privileges whatsoever.

Right reserv-

ed.

SEC. 10. And be it enacted, That the State hereby
reserves the right, to tax the property of the corporation,
and to amend or repeal the charter at any time hereafter.

CHAPTER 122.

Passed Feb.
17, 1846.
Preamble.

An act to incorporate the Athenaeum.

WHEREAS, certain individuals in the city of Baltimore,
have subscribed, and agreed to contribute, as a free gift,
a large sum of money for the purpose of purchasing a lot
in said city, and erecting thereon an edifice to be called
the Athenaeum; and whereas, said subscription has, been
made upon the express condition, that the said lot and
edifice shall be devoted to scientific, literary and artisti-
cal purposes, under the direction of the Library Company
of Baltimore, and the Maryland Historical Society, and
whereas, before obtaining said subscription, it was ex-
pressly agreed been said Library Company and Histori-
cal Society, that in case either institution should be dis-
solved or should, without consent of the Other, sell,
dispose of, or mortgage its interest in said property, or
in case the interest of either should be sold under execu-
tion or by any other process of law, then immediately on
the happening of any of said events, the whole interest of
such institution in said property shall cease, and shall im-
mediately vest in the other, and whereas, it might be des-
tructive of the welfare of one of said institutions, if the
interest of the other in said property should be conveyed
or sold to other uses than are intended as above stated,
and it is right and proper that said property shall be pre-
served for the uses intended by said donors; and where-
as, in order to preserve the legal title in and to said pro-
perty, for the use and benefit of said Library Company
and Historical Society, according to the foregoing agree-