1847.

LAWS OF MARYLAND.

CHAP 101.

the president and countersigned by the treasurer, and
sealed with the common seal of the said company, to
such person or persons, for every share by him, her or
them subscribed and held, which certificate shall be
transferrable at his, her or their pleasure, subject how-
ever, to all payments due and to become due thereon,
and the assignee holding such certificate shall be enti-
tled to one share of the capital stock and of all the
estate and emoluments, of the company, and to vote as
aforesaid at the meeting thereof.

Penalty for

neglecting to
pay instalment
when required.

SEC. 7. And be it enacted, That after thirty days
notice of the time and place appointed for the payment
of any proportion of the said capital stock of the said
company, if any stockholder shall neglect to pay such
proportion at the place appointed for the space of thir-
ty days after the time so appointed, every such stock-
holder, his, her or their assignee shall, in addition to
the payment so called for, pay at the rate of five per
centum per month for delay of such payment, and if the
same, and the said additional penalty shall remain un-
paid for such space of time as the accumulated penal-
ties shall become equal to the sums before paid in part
on such account of such share or shares, the same shall
be forfeited to said company, and may and shall be
gold and assigned by the president and managers of
said company to any person willing to purchase the
same, for such price as can be obtained for the same,
and the purchasers aforesaid shall have all the benefit
and advantage of such assignment and purchase, as if
he, she or they had teen an original stockholder.

Banking for-
bid.

SEC. 8. And be it enacted, That nothing in this act,
shall be so construed as to authorise the said corpora-
tion to issue any note, token, scrip, device or other evi-
dence of debt to be used as a currency.

In force.
Reservation.

SEC. 9. And be it enacted, That this act of incor-
poration shall enure for thirty years froth its passage,
and that the legislature reserves the right to alter or
annul this act at pleasure.

CHAPTER 101.

Passed
Jan. 21. 1848.

Persons incor-
porated.

An act to incorporate the Cumberland Savings Insti-
tution.

SECTION. 1. Be it enacted by the General Assembly of

Maryland, That Henry Bruce, Thomas Perry, William