losses or otherwise; in case of such deficiency, the
board of directors shall have power to levy an as-
sessment on the shares to make up the deficiency;
and after public notice is given in two of the
daily newspapers of the city of Baltimore for at
least thirty days of such assessment, and requiring
its payment, the directors may sell at auction the
stock of any shareholder who shall neglect or re-
fuse to pay such assessment within one week from
the time at which such payment is in and by said

Provisos.

public notice required; provided, a price equal to
the assessment be realized for it and a new certifi-
cate shall be issued to the purchaser for the sharp
or shares so purchased, and the old one shall be
cancelled in the books of the company, and any
surplus received for the stock so sold over and
above the assessment and expense shall be paid
over to the holder of such cancelled certificate.

May convert
scrip into cap-
ital stock.

Sec. 12. And be it enacted, That the directors
may at any time, by a vote of two-thirds of their
whole number, convert the issue of scrip at its
then marketable value, into capital stock, and
make the company wholly a capital stock com-
pany; or when the surplus or reserved fund repre-
sented by the scrip aforesaid shall amount to a
sum equal to the original capital stock of one hun-
dred thousand dollars, they may refund the capital
stock at such value as it may then bear in the
market not less than par, and make it wholly a
mutual company; and the directors shall also have
power to make all necessary by-laws to conform to
such changes in the capital stock and business of
said company and in conformity with the act
aforesaid.

Not liable be-
yond sum paid
in.

Sec. 13. And be. it enacted. That no director or
stockholder shall be liable for any of the debts or
obligations of the company beyond the sum actu-
ally paid in by him and represented, by his certifi-
cate of stock on the paid up amount.

To have ac-
cess to books
and records.

Sec. 14. And be it enacted, That every stock-
holder of this company shall at all times have ac-
cess to the books and records thereof; and in case
of any suit against or in favor of said company,
any court of record may, by a proper order, com-
pel the production of its books and records, and