holders, or either or both, or possess any other qualification; and all courts, judges, heads of departments, boards, bodies, municipalities and public officers of every character, shall accept and treat such bond, undertaking, obligation, recognizance or guaranty when so executed by such company as conforming to and fully and completely complying with every such requirement of every such law, charter, ordinance, rule or regulation.

1904, art. 23, sec. 340. 1898, ch. 302, sec. 244b.

379. Such company or companies to be so qualified as to act as such surety or guarantor must comply with the requirements of every law of this State applicable to such company or companies doing business therein must be authorized under the laws of the State where incorporated and under its charter to become surety .upon such bond, undertaking, obligation, recognizance or guaranty; must have a fully paid-up and safely invested and unimpaired capital of at least $250,000; must have good available assets exceeding liabilities, which liabilities for the purpose of this and the preceding section shall be taken to be its outstanding debts and a premium reserve at the rate of fifty per centum of the current annual premiums on each outstanding bond, undertaking, recognizance, and obligation of like character in force; must file with the State Tax Commissioner a certified copy of its certificate of incorporation a written application to be authorized to do business under the preceding section, and also with such application and in each year thereafter, a statement verified under oath made up to December 31st preceding, stating the amount of its paid-up cash capital, particularizing each item of investment, the amount of premiums upon existing bonds, undertakings, recognizances and obligations of like character in force upon which it is surety, the amount of liability for unearned portion thereof estimated at the rate of fifty per centum of the current annual premiums on each such bond, undertaking, recognizances and obligations in force, stating also the amount of its outstanding obligations of all kinds, and such further facts as may be by the laws of this State required of such company in transacting business therein; and if such company be

organized under the laws of any other State than this State, it must have on deposit with a State officer of one of the States of the United States, not less than $100,000 in good securities, deposited with and held by such officer for the benefit of the holders of its obligations; must also appoint an attorney in this State upon whom process of law can be served, which appointment shall continue until revoked, or another attorney substituted, and must file with the Stax Tax commissioner evidence of such appointment, which shall state the residence and office of such attorney.

Ibid, sec. 341. 1898, ch. 302, sec. 244c.

380. The State Tax Commissioner upon due proof by any such company of its possessing the qualification in Section 379 specified shall issue to such company a certificate setting forth that such company has qualified and is authorized for the ensuing year to do business under Section 378, which said certifi cate shall be evidence of such qualification of such company and of its authorization to become and be accepted as sole surety on all bonds, undertakings, recognizances, obligations required or permitted by law, or in the charter, ordinances, rules or regulations of any municipality, board, body, organization or public officer, and the solvency and credit of such company for all purposes and its sufficiency as such surety.

1904, art. 23, sec. 342. 1892, ch 279.

381. No corporation which, under the laws of this State, shall act as trustee, executor, administrator, guardian, committee or receiver or in any one or more of those capacities without bond or security other than its own obligation, in any case in which bond would be required from a natural person in the like or similar capacity, shall incur the liability of a surety upon any bond of any sort or description, and all acts and parts of acts, whether general or special, inconsistent herewith are hereby repealed.

Turnpike, Plank Road and Passenger Railroad Companies*

Ibid, sec. 343. 1888, art. 23, sec. 233. 1882, ch. 456.

1868, ch. 471, sec. 107.

382. Corporations for making turnpikes, or plank roads, or passenger railways outside of the limits of the City of Baltimore, may be formed as hereinbefore provided; no such passenger railway to exceed twelve miles in length; and such turnpikes, plank roads, or passenger railways may be constructed on the bed of any county road or on part of the bed thereof, the consent of the county commissioners of the county in which said road may lie having first been given in writing and recorded among the proceedings of said county commissioners, and also recorded in the book or journal of proceedings of said corporation; the location of the bed of any part of said county road may be changed by said corporation, for the purpose of a better construction of said turnpike, or plank road, or passenger railway; provided, the land to be occupied be obtained by agreement with the owners thereof, or by condemnation; at least fifteen feet in width of the bed of any turnpike road shall be covered with broken stone or gravel, or other hard or durable materials, to the depth of at least twelve inches, unless the natural bed be hard; and the bed of any plank road shall be well and securely laid and covered with plank or wood for the same width.

1904, art. 23, sec. 344. 1888, art. 23, sec. 234. 1882, ch. 456, sec. 2. 383. In all cases when any passenger railway company uses the roadbed or any portion thereof of any turnpike, street or road in any county in this State, it shall, at all times, keep in good and proper repair, not only the portions of said turnpike, street or road which may be embraced between the rails of its track, but also that part which shall extend for a distance of two feet on either side of said rails; and in case of refusal or neglect to comply with the provisions of this section within five days after due notice in writing shall have been given by the county commissioners of the county in which said passenger railway has its tracks, then it shall be subject to a penalty or

See Article 91 of the Code, entitled "Surveyor and State Survey," in regard to the acquisiton of turnpike, etc., by the State Roads Commission.

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fine of ten dollars a day for each and every day of such refusal or neglect to repair and put in order any such turnpike, street or road; said fine to be recovered by suit before any justice of the peace of said county, in the name of the county commissioners of said county.

Ibid, sec. 345. 1888, art. 23, sec. 235. 1868, ch. 471, sec. 108. 384. When any turnpike, or plank road or passenger railway, shall have been finished one mile in length, the president and directors shall report to the County Commissioners of the county in which it may lie, under the oath of the president and a majority of the directors, and the treasurer of the corporation, the actual cost of said road, so far as finished; and thereupon the County Commissioners shall appoint three citizens of the county to examine said road, and determine whether the same is constructed in such manner as will subserve the public interests for the uses to which said road is applicable, who shall report to said county commissioners in writing, and said report shall be reviewed by said County Commissioners; and if they shall determine that the road is properly constructed, same proceedings shall be had at each succeeding mile shall be authorized to erect a toll-gate thereon, and to charge such rates of toll as will yield eight per centum per annum net profit on said actual cost, for distribution to the stockholders; and the same proceedings shall be had as each succeeding mile shall be completed, until the said turnpike, or plank road, or passenger railway, shall be finished; but when more than one mile of any turnpike or plank road shall be completed, it shall not be necessary for the corporation to erect more gates than it may deem convenient; and it shall be empowered to collect at the gate or gates which may be erected, tolls to yield at the rate aforesaid, for the number of miles of said road or turnpike which may be finished.

Ibid, sec. 346. 1888, art. 23, sec. 236. 1868, ch. 471, sec. 109. 385. The corporation of any such turnpike or plank road, shall revise its rates of toll every six months for three years, from the completion of the road, and shall report the amounts of its revenue and expenditures at any time when demanded by the County Commissioners; and if the receipts shall be found at

any time to amount to more than is necessary to yield eight per centum per annum, net, to the stockholders, the tolls shall be reduced to this standard. In all cases, the rates of tolls chargeable shall be specified and approved in writing by the County Commissioners, and shall be, as nearly as may be, such rates as will yield the said dividend and no more; and such writing shall be recorded in the office of the county commissioners, and also in the journal or book of proceedings of the corporation, and copies thereof shall be printed and exposed to public inspection at every toll-gate; and such writing, or a copy thereof, shall be conclusive evidence of the right of the company to charge tolls and of the amounts thereof.

1904, art. 23. sec. 347. 1892, ch. 188, sec. 236A.

386. All turnpike or plank road companies in this State are hereby authorized and empowered to charge and collect such rates of toll for traction engines, steam engines and all vehicles attached thereto, which shall be hauled or propelled upon the roads and through the toll-gates of such companies, as shall be fixed by said companies in accordance with the provisions of sub-title turnpike, plank road and passenger railway companies, and this section shall apply as well to all turnpike and plank road companies incorporated under special acts of the General Assembly of Maryland, as to those incorporated under the provisions of this Article.

Ibid, sec. 348. 1888, art. 23. sec. 237. 1868, ch. 471, sec. 110.

387. If a company shall be formed to make a turnpike or plank road through several of the counties of the State, when the same shall be finally completed, a report as mentioned in Section 384 shall be made to the Comptroller, and by him laid before the Governor, of the entire cost of said road; and the Governor shall thereupon appoint five commissioners to examine and report to him, on the construction of said road, its adaptation to public uses, the whole cost thereof, and the revenue and expenses of maintaining the same, as far as ascertainable; and if said report shall be favorable, the Governor shall issue his warrant to said corporation, authorizing it to establish toll-gates, and specifying the rates of toll which may