T. WATKINS LIGON, ESQUIRE, GOVERNOR.

335

CHAPTER 209.

AN ACT, amendatory of the act to incorporate the
Bank of Commerce, passed January session, eigh-
teen hundred and filly-four, chapter 235, and to
increase the capital stock of said Bank to one mil-
lion of dollars.

Passed Mar.
8, 1856.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That the capital stock of the
Bank of Commerce, in the City of Baltimore, may
be increased to one million of dollars, in shares of
twenty-five dollars each.
SEC. 2. And be it enacted, That such increase of
capital may be effected, from time to time, and at pe-
riods most convenient and available in the judgment

Capital stock
augmented.

of the board of directors of said bank; Provided,
said increase of capital shall be made only by
the paying in of specie, or the notes of specie pay-
ing banks.

Proviso.

SEC. 3. And be it enacted, That before proceed-
ing to increase said capital, the board of di-
rectors shall first obtain the assent of the stockhold-
ers owning two-thirds of the slock, represented in
person or by proxy, at a meeting of the stockhold-
ers, called by the board of directors, on at least six-
ty days notice, published at least twice a week, in
two or more of the daily newspapers in the said city.

Assent.

SEC. 4. And be it enacted, That whenever the said
bank shall increase its capital, as hereby authorised,
it shall, on the thirty-first day of December next en-
suing, and annually thereafter, report the same to
the Treasurer of the State; and said bank shall
thereupon pay annually into the treasury the school
tax of twenty cents on every hundred dollars of said
increased capital.
SEC. 5. And be it enacted, That the said bank
shall report, under oath of the president or cashier,
on the first Monday in July and January, in each and
every year, to the treasurer of the State, what amount
of its capital stock, if any, consists of stock note or
notes, received directly or indirectly for stock not
paid in.

To report to
Treasurer.

SEC. 6. And be it enacted, That the said bank,

by the name and style of Bank of Commerce, is
hereby made able and capable in law, to sue and be

Incorporated.