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Session Laws, 1957
Volume 640, Page 1480   View pdf image (33K)
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1480                             Laws of Maryland                       [Ch. 798

Treasurer shall deem fit and proper and to convey the same by good
and sufficient deeds, assignments or other instruments for the con-
veyance and transfer of the same with such covenants as the said
Treasurer shall deem necessary and to give good and sufficient
receipt and releases for the whole or any part of the purchase price
or other considerations.

(b)  Receive any and all sums of money which now or shall here-
after be due the said body corporate by virtue of any mortgage or
other evidence of indebtedness held by the said body corporate, and
to execute good and sufficient releases or other discharge of such
mortgages upon the receipt of the amount secured thereby.

(c)  Settle any accounts wherein at any time the said body corpo-
rate may be interested and to pay or receive any balance which may
be due from or to the said body corporate as the case may be.

(d)   Sell, transfer and assign all stocks and certificates of stock
of the Farmers' National Bank of Annapolis standing in the name
of the said body corporate on the books of the said Farmers' National
Bank; and for the said body corporate and in its name to sell at public
or private sale, or to exchange any or all shares of stock or reg-
istered bonds or securities in any corporation, association, trust,
municipal corporation, or government which may now or hereafter
stand in the said body corporate's name, or in its name and in the
names of others, and to receive and receipt for the purchase price
or property received in exchange, and in its name to sign any trans-
fers or assignments that may be necessary to make the transfer or
exchange, and to deliver the same, together with the stock or securi-
ties sold or exchanged, to the transferee, or his agents.

(e)  For all or any of the purposes aforesaid for the said corpora-
tion and in its name to draw, accept, make, indorse, discount, or other-
wise deal with bills of exchange, checks, promissory notes, or other
securities for the payment of money; and for the said corporation
and in its name to draw checks against its account in the Farmers'
National Bank of Annapolis.

Sec. 5. And be it further enacted, That upon the final distribution

and transfer of the gifts hereinbefore provided for and directed to
each of the two donees above named, which shall be consummated by
the said Treasurer in full within sixty (60) days following the final
EFFECTIVE passage DATE of this Act, the said Treasurer shall
within ninety (90) days following the final passage EFFECTIVE
DATE of this Act file with the State Tax Commission of Mary-
land a signed and sworn certificate setting forth that the trans-
fer and gift to each of the two respective donees has been made
and consummated, and such certificate shall show the total amount
of all of the items of expenses and costs which have been incurred
in the dissolution of the said body corporate, and in the trans-
fer of the assets and properties of the corporation to the two donees
to whom the same are given by virtue of this Act, and the total
amounts given to each donee and which certificate shall also show the
part of each gift which shall be transferred in property or credits,
if any, and the part of each gift which shall be transferred in cash,
and the said certificate shall be accompanied by the written receipt
of each of the two donees to whom the two gifts are made, which

 

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Session Laws, 1957
Volume 640, Page 1480   View pdf image (33K)
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