236 LAWS OF MARYLAND.
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the President and countersigned by the Treasurer,
and sealed with the common seal of said company,
to each person for the share or shares by him sub-
scribed and held, which certificate shall be trans-
ferable at his pleasure, in person or by attorney
legally authorized in presence of the President or
Treasurer, subject, however, to all payments due
or to become due thereon, and the assignee hold-
ing such certificate having just caused the assign-
ment to be entered in a book of the company, to
be kept for the transfer of stock, shall be a mem-
ber of the corporation, and for every certificate so
signed to him, shall be entitled to all the shares
of the capital stock embraced therein, and to all
estates, emoluments and privileges incident to said
shares, and subject to all the liabilities, penalties,
and forfeitures upon such shares as the original
subscription would have been. |
Instalments. |
Sec. 8. And be it enacted, That upon every such
subscription there shall be paid to the Treasurer
of said company such instalments as the President
and Directors of said railroad may require; pro- |
Provisos. |
vided that no payment shall be demanded until at
least thirty days public notice shall be given in at
least one newspaper in the county in which said
payments shall be demanded, and should any sub-
scriber fail or neglect to pay any instalment or
any part of said subscriptions thus demanded for
the Space of sixty days next after the time the
same shall be due and payable, the stock on which
it is demanded shall be forfeited to the company,
but the President and Directors may remit any
such forfeitures on such terms as they may think
proper; provided always, that in addition to the
forfeiture aforesaid, the said company shall be en-
titled to receive, sue for and recover the said in-
stalment and subscription due as aforesaid in such
manner as other debts and claims are now recov-
erable by law. |
Bond to be
executed. |
Sec. 9. And be it enacted, That the Treasurer of
the said company, before he proceeds to act as
such, shall execute and deliver to the President
and Directors thereof a bond in such penalty as
shall be prescribed by them and with such sureties
as they shall approve, conditioned for the faithful
performance of the several duties and trusts to |
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