Civilian & telegraph. [volume] (Cumberland, Md.) 1859-1875, 1865-06-01


unoer the laws Of the United States.
Section /. Be it enacted by the General AS
sembly of Maryland, That any bank. savings
institution or savings bank incorporated under
the laws of this State, may become an associa-
ton for the purpose of banking under the laws
of the United States: propitlea it shall first
comply with all the requirements of the act
of the first session of the thirty eighth Con-
grcss of the United States. entitled, "a act
to provide a national currency, secured by a
pledge Of the United States bonds, and to pro-
vide for the circulation and redemption
thereof"
Section 2. And be it further enacted, That
before my bank, savings institution or savings
bank of this State shall avail itself Of the pro-
visions Of this act, and Of the aforesaid act of
Congress, its stockholders, by and with the
written advice and consent of the owner of
three. fourths Of the capital stock of said bank,
savings institution or savings bank. "or at a
special meeting" called for the purpose, shall
decide whether said bank, savings institution
or savings bank shall or shall not become an
association for the purpose of banking under
the laws Of the United States, and at said
meeting every stakeholder may cast one vote
for each share of stock held by him or her, and
every stockholder who shall be absent from
said meeting, may vote by proxy, and every
executor, administrator, guardian or trustee,
holding stock in said bank, savings institution
or savings bank, may vote in person or by
proxy, without mourning any responsibility by
such vote, and the Treasurer of Maryland is
hereby authorized and directed to represent
and vote the stock held by the State in any of
the banks, savings institution or savings bank
of this State, and if on costing up the vote at
said meeting it shall appear that the owners
of lwo-thirds of the capital stock of said bank,
savings institution or savings bank, are IN ia
vor of converting the said bank, savings insti-
tuition or savings bank into an association for
the purpose OF banking under the laws of the
United States, the Directors Of said bank
savings institution or savings bank, or ma
iority of them, may execute the organization
certificate and such other paaers as shall be
necessary, and may perform all acts required
| by law Tor enabling the said bank, savings
institution or savings bank to become such as
socia ion
S, elton g. And be it further enacted, That
whenever any bank. savings in on
savings hank in this State shall present tothe
Clerk of The Court of Appeals OF Maryland a
certf .ate from the Comptroller Of TIE Cur.
rcncy, setting forth under his hand and ofhcii
seal that the bank, savings institution OF
savings lank has become an association 10
the purpose of banking under the laws Of TIT
United States, the said clerk shall record sucl
certificate and shall send an auhcntlcal copy
thereof to the Governor of the State, who, OF
receiving the same, shall give notice Tor n
least three weeks in some newspaper printed
in the city or county where said bank, saving
institution or savings bank is located that saic
bank, savings institution or savings bank ha
been converted into such association, and tina
its charter, MS granted by the General Assem-
bly, of Maryland, has been surrendered, ant
thereupon its corporate powers shall cease
prorided, necertheiess, that said bank, saving
institution or savings bank may continue t,
use its corporate name for tho purpose of de
Tending and prosecuting suits instituted by o
against it, aud Of enabling it to close lis at
fairs, but not for the purpose of continuing
under the laws Of Of this State, the bushes
for which " m"s o...-Li;"L-1. ""i no bank
savings institution or savings bank thus ovu
verified iuto banking association under tn
laws of the United States, shall Reissue TO
circulation any of the notes issued by 1T durln:
its existence under the laws of the State, o
more than ono year after its charter has beef
surrendered sgroaidea, that the existing law
of the State lf0viding for taxes on the Stat
banks for the purposes enumerated theron
! hall extend and apply 10 all the provisions @
this act, whcn they shall have become banking
associations under the act of Congress. and al
sums required BY the charters of said insutu
, tious and banks to be pai', to the State shall
continue as heretofore to be paid.
Sec ton 4. And be it further enacted; Tha
whenever any bank, savings institution o
savings bank in this State shall have surren
dered its charter, and became an assoclatio
for the purpose of banking under the laws {
the United States, all its assets, real and pei
soual, without other transfer, shall vest in an
: become the property of such association, an
said association shall be responsible for all III
debts and liabilities of said bank, savings il
stitution or savings bank incurred prior to IL
surrender Of its charter.
Section 5. And be it further enacted, Tit
whenever the charter of any bank. saving
institution or savings bank in the State hi
g been surrendered, as herciubefore provide
: for the members Of the Board of Director
last in Office, shall forthwith deliver no all Il
: plates and dies of said bank, savings instltl
IS ton or savings bank to the Superior Court
J. Baltimore city, where said bank, savings il
e oti,utioa or savings bank is located in the cit
II or to the Circuit Court for the county in whl'
&c said bank, savings institution or savings bar
may be located, and the Judge of each of 81
n courts shall cause the said plates and dies
/ be destroyed in his presence. and also in 4
:: presence of the President or Cashier OF sa
$; bank, savings institution or savings bank, al
'r the members of Board Of Directors who "
i fully refuse or neglect so to do, shall be deem
N guilty of misdelneanor, and on convictlo
Or shall be severally punished by fine not e
Or cceding five hundred dollars
Or Section 6. And be it enacted. That this &
4, shall take effect from and after its passage.
rs .' CHAPTER 149.
g AN ACT to amend article twenty-six Of t
er Public General Laws Of this State relating
Corporation by adding thereto certain ad
lis tional sections providing for the formation
s. Corporations engaged in the business of {
e tanning Oil boring or otherwise, on and up
y lands within this State, or beyond the lin
III thereof.
Section /. Be it enacted by the Gene
j. A Nfu.sl.ul TI,,t tl,n