shares then held by such member or borrower, and either to deduct such premium or bonus as may be agreed upon between the corporation and the member or borrower, and either to deduct such premium or bonus in advance, or to make the same payable with and as a part of the weekly dues in each and 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 a transfer of all his or her interest in such share or shares of its stock, and also security by way of mortgage on real or personal property; or by the hypothecation of unre deemed shares of its stock so sold by such member; and said mortgage or hypothecation shall be conditioned for the repayment by such member or borrower to said corporation of the money loaned or advanced to him in weekly installments, including dues, legal interest on the money so advanced or loaned, the weekly premium agreed upon for each share, and also all fines, assessments and penalties incurred according to the bylaws in respect thereof; and all shares of stock so redeemed, advanced or loaned or purchased by such corporation shall be considered as redeemed shares, and shall be canceled; and it shall be lawful for such corporation to issue an equal number of new shares in their stead, so that the number of redeemed shares may always equal and never exceed the number of shares fixed by the certificate of incorporation of such corporations; and the member or members of such corporations so redeeming their said share or shares of stock shall cease to be stockholders, and shall not be entitled to vote at any meeting of such corporations held for the purpose of electing directors or for any other purpose, and shall not be eligible for any of the offices of the corporations. 1904, art. 23, sec. 131. 1888, art. 23, sec. 104. 1868, ch. 471, sec. 93. 1878, ch. 154. 143. It shall not be lawful for any land company, homestead or building association, or any association formed for the purpose of lending money, or using the corporate funds for the purpose of buying, selling, lending upon mortgage, leasing or otherwise dealing in real or leasehold estate, to issue any promissory note, bill or obligation of any kind to any member thereof, or borrow therefrom in lieu of money, and all loans by such corpo ration shall be made in money and not otherwise, and all notes, bills or obligations of any sort issued by any such association. to or for the use or benefit of any member or borrower in lieu of money, and all deeds, mortgages or other securities whatsoever, given to secure the same, shall be void and of no force and validity whatever, either in law or equity. Cemetery Companies. Ibid, sec. 132. 1888, art. 23, sec. 105. 1868, ch. 471, sec. 19. 144. No cemetery company formed under the provisions of this Article shall be authorized or empowered to purchase, hold or use, for the purpose of burial more than one hundred acres of land, nor any ground that shall be comprised within the limits of any city or town in this State, unless the corporate authorities of said city or town shall authorize the same.* * Gregory vs. Chapman, 119 Md. 495. 1904, art. 23, sec. 133. 1888, art. 23, sec. 106. 1868, ch. 471, sec. 80. 1880, ch. 185. 145. No lanes, alleys, streets, roads, canals or public thoroughfares of any sort shall be opened through the property of any cemetery company incorporated under the provisions of this Article, which is used or appropriated for the purpose of burial; but nothing herein contained shall authorize any such corporation to obstruct any public road, street or lane actually opened and used as such at the time of its incorporation, or then laid down on any plat made by authority of the State or city, town or county, to be opened as a street or road; provided, that no cemetery company, incorporated under the provisions of this Article, shall establish, have or maintain for the purpose of burial any ground within the distance of one thousand yards from any boundary line of Druid Hill Park, nor permit any interment therein; nor shall any funeral or burial procession to or from any cemetery incorporated under the provisions of this article pass through any part of said Druid Hill Park without the permission in writing of the park commissioners; and any person or persons who shall cause any such funeral or burial procession, or any part thereof, to pass through any part of such park, or shall participate in any manner in any interment within the territory herein prescribed and prohibited as to such interments, shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be subject to a fine of one hundred dollars, or to such fine and imprisonment for ten days in jail in the discretion of the Court.† Ibid, sec. 134. 1888, art. 23, sec. 107. 1868, ch. 471, sec. 81. 146. Every burial lot sold or conveyed in such cemetery shall be held by the proprietors thereof for the sole purpose of sepulture and for none other, and shall not in any manner be subject to attachment or execution for debts, or affected by the insolvent laws of this State; but the real estate of the owner or owners in their respective lots shall descend as real estate to heirs, may be devised by will or may be disposed of by the owner by sale, with the approval of the president and managers of the corporation.* Ibid, sec. 135. 1888, art. 23, sec. 108. 1868, ch. 471, sec. 82. 147. A certificate under the seal of the corporation of the ownership of any lot sold or conveyed as aforesaid shall in all respects have the same effect as any conveyance from such corporation of said lot would have if executed, acknowledged and recorded, as conveyances of real estate are by the laws of this State required to be. 1904, art. 136. 1888, art. 23, sec. 109. 1868, ch. 471, sec. 83. 1884, ch. 22. 1898, ch. 178. 148. Any person or persons, his, her or their aiders or abettors, who shall wilfully destroy, mutilate, deface, injure or remove any tomb, monument, grave-stone, or other structure placed in any cemetery, or any building, wall, fence, railing or other work, for the use, protection or ornament of any public or private cemetery in this State, or shall wilfully destroy, cut, break or remove any tree, plant or shrub within its limits, or who shall shoot or discharge any fire-arms within said limits, or who shall be guilty of indecent or disorderly conduct within said limits shall be guilty of a misdemeanor, and upon conviction thereof in any Court of competent jurisdiction or before any justice of the peace of this State shall be punished by fine, not less than five dollars nor more than five St. James Church vs. B. & O., 114 Md. 442. *Gregory vs. Chapman, 119 Md. 495. hundred dollars, or imprisonment in the county jail or the Maryland house of Correction, for not less than thirty days, nor more than two years, or both such fine and imprisonment in the discretion of said justice or Court, according to the gravity of the offense. Any justice of the peace in this State, except civil justices in the City of Baltimore, shall have jurisdiction under this section. Gas and Electric Light Companies. Ibid, sec. 142. 1888, art. 23, sec. 110. 1868, ch. 471, sec. 93. 149. Any gas light cororation formed under this Article shall have full power to manufacture artificial gas, and to sell and to furnish such quantities of gas, both natural and artificial, as may be required in any city, town or county of this State, in which, or adjoining which the same may be located, for lighting the streets, roads and public or private buildings, or for other purposes, and such corporation is hereby authorized and empowered to lay conductors or pipes for the transmission of gas, both natural and artificial in any city, town or county, under the streets, squares, lanes, alleys and roads thereof, paved or unpaved, and to connect the same with any manufactory, public or private building, lamp or other structure or object, and with the place of supply, after first securing the proper assent of the municipal authorities of said city or town, or of the county commissioners of said county, under such reasonable and proper regulations and conditions that may be prescribed by them, subject, however, also to any law or ordinance that may be passed by the municipal authorities of the city or town, or the county commissioners having jurisdiction, for the filling up and repaying of any street, lane or alley or road under which the said pipes may be laid. 1904, art. 23, sec. 143. 1888, art. 23, sec. 111. 1890, ch. 588. 150. Any electric light or power company formed under this Article shall have full power to manufacture, sell and furnish such quantities of electric light or electric power as may be required or desired in any city, town or county of this State, in which or adjoining which the same may be located, for lighting the streets, roads, public or private buildings, or for motive power or other purposes, and such corporation is hereby authorized and empowered to lay, construct or build lines or conductors under, along, upon or over the streets, squares, lanes, alleys and roads, paved or unpaved, and connect the same with any manufactory, public or private building, lamps or other structure or object, and with the place of supply, after first securing the proper assent of the municipal authorities of said city or town, or of the county commissioners of said county, under such reasonable and proper regulations and conditions that may be prescribed by them; subject, however, also to any law or ordinance that may be passed by the municipal authori ties of the city or town, or of the county commissioners, having jurisdiction, for the filling up or restoring such streets or roads to their former condition.* 1906, ch. 167. 151. Whenever any two or more corporations of this State are engaged in furnishing to the public light by the same or different process in the same town or city, and the holders of a majority of stock therein shall believe that such corporations can furnish a cheaper and better service by co-operation for ihat purpose, and shall authorize the exercise of the powers herein given, such corporations, in addition to the right to con solidate, as provided in Article 23, Section 45, of the Code of Public General Laws of this State, are hereby empowered to secure such joint operation by one of said corporations becon.ing the lessee of the property and franchises of the others, or the owner of stock therein.† Insurance Companies. 1904, art. 23, sec. 144. 1888, art. 23, sec. 112. 1868, ch. 471, sec. 96. 152. The capital stock of any insurance company incorporated under this article shall not exceed the sum of two millions of dollars, and except in the case of mutual insurance companies shall not be less than one hundred thousand dollars; and at least one-fifth of the whole capital stock shall be paid in before Electric Light Company vs. Frederick, 84 Md. 599, 607; Brown vs. Md. Telephone Co., 101 Md. 574; Hagerstown vs. Hagerstown Railway, 123 Md. 183, 187. † Munich Reinsurance Co. vs. United Surety Co., 113 Md. 200. |