| 1814.
CHAP. 61. |
LAWS OF MARYLAND.
a member or members of the said company to all intents and purposes. |
Oath of president,
&c. |
11. AND BE IT ENACTED, That the president
and each manager,
before he enters upon the duties of his office, shall take the following
oath, or affirmation, (as the case may be:) " I do solemnly swear,
or affirm, that I will impartially, faithfully, diligently and honestly,
execute the duties of _____, conformably to the provisions of an
act to incorporate a company under the name and style of the Union
Company of Snow Hill, and the trusts reposed in me, to the best
of my skill and judgment;" and the secretary, and other officers,
shall also take a similar oath, or affirmation, and shall besides give
bond, with security, to the satisfaction of the president and managers,
for the faithful discharge of their duties in their respective
stations. |
Penalty for default
in payment of instalments. |
12. AND BE IT ENACTED, That if any stockholder
shall fail to
pay his or her instalments to the amount of ten dollars on each
share, at the times and in the manner to be prescribed by the board
of managers, who are hereby authorised to prescribe and regulate
the same, such stockholder shall forfeit to the use of the company
all monies paid antecedently to such failure or default, but no forfeiture
shall take place after ten dollars on each share shall have
been paid; but if any stockholder shall fail to make regular payment
of any instalment after ten dollars shall have been paid, such
stockholder's money in the company shall remain free from interest
and not entitled to dividend until such instalment or call shall be
made good, and the dividend thereafter to be paid to such stockholder,
as well upon the money by him regularly paid as upon the
money paid after default, shall be calculated only from the time
when said last instalment was made good. |
|
_____
|
Passed Jan. 19, 1815. |
CHAP. LXII.
An Act for the relief of William Wilson, of John, of Montgomery
County.
Lib. TH. No. 4, fol. 288. A Private Act. |
|
_____
|
Passed Jan. 19, 1815.
* Dec. 1813, ch. 81. |
CHAP. LXIII.
A Supplement to an act* to establish a Bank and incorporate a Company
under the name of The Bank of Caroline. Lib.
TH. No. 4,
fol. 289. |
| Preamble. |
WHEREAS it is represented to this general assembly
by the petition
of the president and directors of the Bank of Caroline, that
doubts have arisen respecting the power of said president and directors
to sell and dispose of the unsubscribed shares in said bank;
therefore, |
Unsubscribed
shares may be sold. |
1. BE IT ENACTED, by the General Assembly
of Maryland, That
it shall and may be lawful for the said president and directors of
the said Bank of Caroline, for the time being, to sell and dispose
of
the said unsubscribed shares of said bank, or any part thereof, whenever
they shall see cause so to do, for the use and benefit of the said
institution, and any person or persons who may purchase any of
the said unsubscribed shares in said bank, under this act, shall and
are hereby declared to be stockholders in said bank as fully as if
they had originally subscribed for the same, and shall in all cases
be taken and considered as such. |
|
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