| ROBERT BOWIE, ESQUIRE, GOVERNOR.
from the profits of the corporation, shall have been added to the
capital. |
1804.
CHAP. 77. |
13. AND BE IT ENACTED, That no person who
is a director of
any other insurance company shall be a director of this. |
No person a director
of any other
insurance company
ti be one in
this. |
14. AND, for the greater security of persons
having insurances
effected in the Chesapeake Insurance Company, BE IT ENACTED,
That if at any time the funds of the corporation should not be
competent to pay and satisfy the just demands of the assured, that
nothing herein contained shall be construed to discharge the stockholders
from being liable for their respective proportions of said
losses, according to the number of shares they may hold therein;
but no stockholder shall be liable for more than his own proportion
of losses as aforesaid, or to answer for the failure or deficiency
of others, further than as an endorser on their notes; and if a
judgment shall or may at any time be rendered against the said
corporation in a suit upon a policy of insurance by them signed,
and no property can be found whereon an execution may be laid to
satisfy the said judgment, then and in such case the plaintiff or
plaintiffs may, and he or they are hereby empowered to file, in the
court of chancery, a bill of discovery and relief against the directors
of the corporation as against private individuals, when they
shall be severally compelled to discover the interest or shares
which each and every member of the corporation may have therein,
and upon such discovery being had, the chancellor shall ascertain
the proportionate parts of the said judgment which the said
members severally ought to pay, and he is hereby authorised to
decree accordingly the sum of money which each and every member
of the said corporation shall pay to the said plaintiff or plaintiffs. |
Stockholders liable
for proportions
of losses. |
15. This act to commence on the first day
of February next,
and to continue and remain in force for the term of fifteen years,
and until the end of the next session of assembly which shall happen
thereafter. |
Commencement. |
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|
|
CHAP. LXXVIII.
A Further Supplement to an act (a) for amending, and reducing
into
System, the Laws and Regulations concerning Last Wills
and Testaments,
the duties of Executors, Administrators and Guardians,
and the rights of Orphans and other Representatives
of Deceased
Persons. Lib. JG. No. 4, fol. 658.
(a) 1798,
ch. 101. See 1802, ch. 101, and the acts there referred to. |
Passed Jan. 19, 1805. |
1. BE IT ENACTED, by the General Assembly
of Maryland, That
in all cases where the register of wills has been appointed auditor
for the purpose of ascertaining the sum for which judgment shall
be rendered against any executor or administrator, it shall be the
duty of every register to act in virtue of such appointment, under
the penalty of fifty dollars for every such neglect; and in all cases
where a person, other than the register of wills, hath been appointed
auditor as aforesaid, who has refused or shall refuse to act,
the register of wills shall be appointed auditor in the place of the
person refusing, and shall forthwith proceed to discharge the duties
thereof, under the penalty above mentioned; and the said register,
and every other person who shall act as auditor, shall be
allowed for his trouble the same fees as the register is by law entitled |
Register to act as
auditor for ascertaining
certain
sums. |
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