| 1804.
CHAP. 61. |
LAWS OF MARYLAND.
corporation shall at any one time owe, whether by bond, bill, note or
other contract, shall not exceed double the amount of the capital
actually paid into the said bank; provided that the money deposited
in the said bank for safe keeping shall not be considered as the
debts of the bank within the provision of this clause, (unless the
contracting of any greater debt shall have been previously authorised
by a law of the state;) in case of excess, the directors under
whose administration it shall happen shall be liable for the same
in their natural and private capacities, and an action of debt may
in such case be brought against them, or any of them, or their
heirs, executors or administrators, in any court of record in this
state, by any creditor or creditors of the said corporation, and
may be prosecuted to judgment and execution, any condition, covenant
or agreement, to the contrary notwithstanding, but nothing
herein contained shall be construed to exempt the said corporation,
or the lands, tenements, goods or chattels of the same, from being
also liable for, and chargeable with, the said excess; and such of
the said directors who may have been absent when the said excess
was created, or who may have dissented from the resolution or act
whereby the same was created, may respectively exonerate themselves
from being so liable, by forthwith giving notice of the fact,
and of their absence or dissent, to the governor of the state, and
to the stockholders at a general meeting, which they shall have
power to call for that purpose. |
| Duration. |
30. AND BE IT ENACTED, That this act shall
be and continue
in force for the term of ten years, and thence until the end of the
next session of assembly.
Further continued and extended by 1815,
ch. 167, to 1st January 1835, &c. |
| Proviso. |
31. PROVIDED ALWAYS, AND BE IT ENACTED, That
if a sum
not less than three hundred thousand dollars shall not have been
subscribed, and one hundred and fifty thousand dollars paid in,
prior to the said first day of October next, that then and in that
event this charter and act of incorporation shall cease and be of
no effect. |
In a certain event
money subscribed
to be paid. |
32. AND BE IT ENACTED, That in the event of
the charter
ceasing and becoming void as aforesaid, the said commissioners
who received the subscriptions and money aforesaid, unless they
have transmitted the money to the commissioners at Annapolis and
Easton, and in that event the commissioners at Annapolis and
Easton shall cause the money subscribed and paid as aforesaid to
be repaid to the respective subscribers, or their assigns, and in
case of non-payment, may be respectively sued or warranted, as
the case may require, and the payment enforced, in the same manner
as for their individual debts, any thing herein contained to the
contrary notwithstanding; provided, that it shall and may be lawful
for the said commissioners respectively to deduct from the money
received as aforesaid the expenses incurred in opening the subscriptions,
and to apportion the same amongst the subscribers, according
to the respective sums by them subscribed. |
|
_____
|
Passed Jan. 12, 1805. |
CHAP. LXII.
An Act to grant a public Road, and confirm the same, in the upper
part of Queen-Anne's
County. Lib. JG. No. 4, fol. 633.
A supplement, November 1812, ch. 139. |
| Preamble. |
WHEREAS it is represented to this general assembly,
by the petition
of sundry inhabitants of Queen-Anne's county, that a law |
|
 |
