128

LAWS OF MARYLAND.

Additional
powers.

said Company, to make all deeds, transfers, con-
veyances and contracts whatsoever, incidental to
the prosecution of its business, and to do all other
things that may promote the interests of said cor-
poration in the exercise of its corporate powers.

Sec. 3. And be it enacted, That it shall and may
be lawful for said corporation, at any time, before
the period or periods of time, at which the several
instalments on. the shares of stock of any subscriber
or member, shall have become due, and be entirely
paid, under the provisions prescribed by the by-

May redeem.

laws for the payment thereof, to redeem the same
and to advance to such member or subscriber, the
par value of one hundred dollars per share for any
number of such shares not fully paid as may be so held
by him, and to receive from such member a trans-
fer of all his interest in said shares, and such mem-
ber shall continue liable to pay on each share so

Assessment.

transferred to the corporation, such assessment on
each share, as may be imposed by the by-laws, du-
ring the continuance of the loan made to such mem-
ber; and said corporation may take security from
such member, by way of mortgage on real or per-
sonal property, or by way of hypothecation of other
securities, which mortgage or hypothecation may
be conditioned for the repayment of the sums so
advanced, and interest thereon, and of assessments
upon said shares and of all fines and penalties in-
curred according to the by-laws, in respect to the
said shares or the repayment of said loan, and the
principal and interest of such advance may be made

Instalments.

payable in such instalments, and at such times as
the by-laws may prescribe; provided, however,
that whenever any number of shares shall be trans-
ferred to the Company under this Section, it shall
be lawful for said Company to receive subscriptions
for a like number of other shares in their stead, so
that the whole number of shares at any time issued,
or subscribed for, other than those so transferred
to the Company, shall not exceed the whole num-
ber of shares which said Company is hereby al-
lowed to issue.

May reduce
stock.

Sec. 4. And be it enacted, That from and after
the acceptance of this Act, as aforesaid, the num-
ber of shares into which the capital stock of said
Company is now divided, shall be reduced from