| 1784.
CHAP.
LVI. |
LAWS of MARYLAND.
found on the land chargeable with the tax. The land
shall be charged, in whatever hands it may be,
with the tax, and with an interest of six per cent. There
is the same provision in this as in the last
supply bill respecting tobacco, and nearly the same respecting men, whose
property shall not be valued to
£. 100. By this act even married men are charged with the said
15f, and there are to be the same proceedings
to secure it; with a proviso, that the commissioners may release it to
those who have large families,
or are unable to pay it. Debtors may, as by the last act, deduct
interest, &c.
The said tax is to be paid in current money, or bank
notes, with a proviso, that any person, on their
paying 3f4 of one half of the tax, may discount
1f8 in such continental certificates, as congress, by
their resolve of the 28th of April last, have agreed to take in part of
their requisitions. And lists of
persons that pay are to be made out by collectors, and disposed of in the
manner heretofore directed in a
former supply bill.
A sum of money, not exceeding one
half of the whole assessment, is to be remitted to the continental
treasury. The residue of the money to be raised by this act is appropriated
to the civil list, and subject
to the future directions of the general assembly. |
|
CHAP. LVII.
An ACT for the relief of James Armstrong, of Baltimore county, and
Robert
Wood, of Frederick county, insolvent debtors. PR. |
|
CHAP. LVIII.
An ACT to secure the payment, and to give a recovery, of money
lent by foreigners to citizens of this state on mortgage
of
lands. |
| Preamble. |
WHEREAS it may prove advantageous to citizens of
this state, were
foreigners enabled to lend them money on mortgages, and such loans
may conduce much to the improvement of the country. |
Loans by foreigners,
&c.
valid, &c. |
II. Be it enacted,
by the general assembly of Maryland, That on the actual
loan of money by any foreigner to any citizen of this state, on an interest
on
premium not exceeding six per cent. by the year, (the present legal
rate of interest)
any mortgage made for the security of the principal lent, and the interest
agreed to be paid thereof, acknowledged and recorded as mortgages and deeds
are to prevent frauds directed by law to be acknowledged and recorded,
shall be
good and valid, and shall stand and be a security, according to the purport
and
intent thereof, for a compliance on the part of the mortgagor, his heirs,
executors
and administrators, with the terms and conditions of such mortgages, and
that although there should be no covenant or express agreement contained
in such
mortgage for the payment of such principal money and interest, the mortgagor,
his heirs, executors and administrators, shall be bound to pay the principal
money
and interest, as if express covenants were contained in the deed of mortgage
for that purpose. |
Court of
chancery may
foreclose, &c. |
III. And be
it enacted, That if the mortgagor, his heirs, executors or administrators,
shall not pay the principal money and interest, agreeable to the
purport and intent of any such mortgage, the court of chancery may and
shall,
as speedily as the case will permit, foreclose such mortgagor, his heirs,
executors,
administrators and assigns, of their equity of redemption in the mortgaged
premises,
and order and direct a sale thereof, or of such part as may be necessary
to
raise and satisfy all principal and interest due, with costs, and if any
part of the
mortgaged premises remains unsold, by order to reinstate the mortgagor,
or person
entitled under him, whose former legal estate shall be restored by virtue
of
such order and this act; but if sufficient cannot be raised by such sale,
then the
court of chancery may and shall decree the balance to be paid by such mortgagor,
his heirs, executors or administrators, and by process compel a full compliance
with such decree; and this legislature plight and engage the faith and
honour of
this state, that in no event (even in the case of war if such should unhappily
take place) will the legislature interfere, or prevent in any degree, this
course of
justice, on any foreign loan made on any such security, but the courts
of justice
shall remain open, and any foreigner receiving or recovering his money,
may
freely carry the same out of this state. |
|
CHAP. LIX.
An ACT to vest certain powers in the intendant of the revenue respecting
Nanticoke
manor. |
|
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