The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1872-05-25

it's passage,
We hereby certify, that the aforegoing
is true aud perfect copy Of an Act
passed the General Assembly of Mary,
land, at the January Session, 1872.
AUGUTUS GASSAWAY,
Secretary of the Senate.
MILTON Y. KIDD,
Chief Clerk House Of Delegates.
Approved April /, 1872.
CHAPTER IT'S
AN ACT
To repeal section ninety two, Of the Acts
of 1868, chapter four hundred aud
seyenty one, relating to Corporations,
aud to re.enaet the same with amend
| menis.
Section l. Be it enacted by the
General Assembly of Maryland, That
section nine two of the Acts of 1868,
chapter All, relating to Corporations,
be, aud the same is hereby, repealed
aud re enacted, to read as follows:
See. 90. That the provisions of the
foregoing sections from section 81 to
section 81, inclusive, shall be taken and
held to apply to corporations, which
have been or may hereafter be formed
in this State, under the provisions of
this Article, for the purpose of loaning
money in real or personal property, or
for buying, selling, leasing, or otherwise
dealing in land; aud that such such cor
poratiou, may by their bylaws, provide
for the payment of all or any part of
their stock 10 advance, and shall have
| power to enforce the payment of all
dues, legal interest or premium due to
such corporation hom its members,
stockholders or borrowers, by such fues
aud iorieitures as the Directors may
from time to time, provide in its by
laws; aud it shall, and may be lawful
for any Of the corporations mentioned in
this section, at a0y tins, either before
or after the shares Of its stock shall
have been fully paid up, to redeem or
pIrchase the same, at sum or price Us
such member may agree to receive
therefor, or to loan TO such member the
par value of its shares, as fixed by It's
certificate Of Incorporation, for any nun
Der of shares then held by such mem.
Der, for any number OF years, and upoa
such premium or bonus as may be agreed
upon between the corporation and mem
Der or borrower, and either to deduct
such premium or bonus ia advance, or
to make the same payable with aud as
part Of the weekly duos, in each aud
every week during the period Of such
loan, and in the payment of such sum
of money by such corporation, then to
receive from such member u transfer of
all his or her interest in such share or
shares Of its stock, aud also security BY
way Of mortgage, on real or personal
property, or by hypothecation OF unre
deemed shares OF its stock so sold by
such members, and that said mortgage
or hypothecatiop shall be conditional
for the repayment by such member or
borrower to said corporation, of the
money loaned or advanced to him in
weekly instruments, including dues.
legal interest on the money So advanced
or loaned, the weekly premiam agreed
upon for each share, and also all fines,
assessments and penalties incurred ac.
eording to the bylaws in respect thereof;
aud all shares OF stocks so redeemed
advanced or loaned, or purchased By
such corporation, shall be considered as
redeemed shares, and shall be cancelled;
and it shall be lawful for such corpora
tion to issue an equal number OF new
shares 10 their stead, so that the nun
Der of unredeemed shares may always
equal aud never exceed the number OF
shares fixed by the certificate of lncor
poration of such corporations; and the
member or members of such corpora
tions SO redeemiug their said share or
shares Of stock, shall tease to be stock
holders, aud shall not be entitled to
vote at any meeting of such corporations
held for the purpose Of electing Direc
tors, or for any other purpose, aud shall
not be eligible for any of the officers OF
the corporation,
Sec. 3 And be it enacted, that this
Act shall take effect from the date Of its
passage.
We hereby certify, that the aforegoing
is true and perfect copy of an Act
passedthe General Assembly of Mary
land, at the January Session, 1872.
AUGUSTUS GASSAWAY,
Secretary Of the Senate
MILTON Y. KIDD,
Chief Clerk House of Delegates.
Approved April LIST, 1872.
CHAPTER los.
AN ACT
To authorize the Clerk of the Circuit
Court for Montgomery county, to
place certain fees in the hands of the
Sheriffs Of the several counties of
this State and the City OF Baltimore
for collection.
Whereas, Z. B. Prettyman, Clerk of
the Circuit Court for Montgomery
county, has failed to place his fees since
June term, eighteen hundred aud six:y
eight, Of said Court, in the hands of the
Sheriffs Of the several counties of this
State aud the City Of Baltimore, for
collection Therefore,
Section /. BE IL enacted hv tho Gar