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The Maryland Code : Public General Laws and Public Local Laws, 1860
Volume 145, Page 59   View pdf image (33K)
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ART. 12.] BANKS. 59

5. The said trustee or trustees shall give bond to the State in
such penalty and with such security as the court shall prescribe,
with condition for the faithful performance of the trust reposed
in him or them, and upon giving such bond all the property,
estate, rights, credits and effects of such bank shall vest fully in
said trustee or trustees, who may bring suit in their own name
or in the name of the bank for their own use at their election;
and to prevent any difficulty concerning the property such bank
may have out of the State, the court may compel such bank to
execute a deed of assignment to the trustees.

6. The Governor shall, upon information that any bank has
refused upon demand to pay specie for any of its debts or liabili-
ties, direct the State's Attorney for the county or city in which
such bank is situated or has its office, to issue a scire facias forth-
with against such bank.

7. A refusal to pay any foreign or domestic broker shall not
be considered a violation of this article.

8. If any officer or director of a bank shall refuse to deliver up
to the trustee or trustees appointed by the court any books or
property of the bank, he shall be liable to be sued by the said
trustee or trustees in a special action on the case for the recovery
of the value or amount thereof, and the jury shall give damages
to the full value or amount thereof, and the court before whom
the recovery shall be had, shall treble the damages and give judg-
ment therefor and costs.

9. Whenever any bank shall refuse to pay its notes or obliga-
tions in specie, and shall be in a condition to be proceeded against
under the preceding sections of this article, such bank shall not
receive any notes, issues or certificates of deposit issued by said
bank in payment or discharge of any debt due the bank, nor shall
any sheriff or other officer, trustee or assignee, whether appointed
by a court or by the bank, receive any such notes, issues or certi-
ficates in payment of any debt due said bank, unless where the
same shall have been held by the debtor at the time of refusing
or failing to pay as aforesaid and being liable to be proceeded
against as aforesaid; but all banks not in a condition to be pro-
ceeded against under the preceding sections, shall receive notes,
issues and certificates of deposit of such bank in payment of any
debt due such bank, whether by judgment, execution, or other-
wise.

 

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The Maryland Code : Public General Laws and Public Local Laws, 1860
Volume 145, Page 59   View pdf image (33K)
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