350

LAWS OF MARYLAND.

Sec. 12. And be it enacted, That the provisions
of this Act, so far as may be applicable in their

Applicable to
all Banks.

privileges and restrictions to any and all batiks
now existing under charter from the General As-
sembly of Maryland, may be availed of by said
bank or banks.

Sec. 13. And be it enacted, That if the President

Suspend busi-
ness.

and Directors should at any time suspend the
active business operations or workings of any bank-
ing institutution incorporated under this Act,
other than as how legally provided for, and a ma-
jority of the stockholders in general meeting assem-
bled determine to close its banking operations,
thenceforth it shall not be lawful for such corpo-

Resume.

ration to resume the exercise of its banking powers
and franchises, hut the same shall be closed, and
after the payment of its debts and liabilities the
remaining assets and property of such corporations
shall he divided among the stockholders or their
assigns.

Sec. 14. And be it enacted, That any and all

Inconsistent.

Acts or parts of Act or Acts inconsistent with the
provisions of this Act, be and are hereby repealed.

Sec. 15. And be it enacted, That this Act shall

In force.

take effect from the date of its passage, and con-
tinue in force until the first day of January, eigh-

Limit.

teen hundred and eighty-five, and to the end of the
next session of the General Assembly thereafter.

Approved April 4, 1870.