EDWIN WARFIELD, ESQ., GOVERNOR.

179

tions, the time at which the same shall be completed, and the

terms at which, on the completion of a certain portion of said

building, the money shall be paid therefor, and the contract

shall be awarded to the lowest bidder, who shall give bond

with surety or sureties as shall be approved by the said Board

of School Commissioners, and for such amount as they shall

approve, conditioned to the faithful performance of the con-

tract so awarded, whereupon the said Board of School Com-

missioners shall immediately proceed to have said building

erected.

SEC. 7. And be it enacted, That if the Board of School

Commissioners shall find it necessary to condemn a lot or

Privileges of
condemna-

lots of ground for the location of the aforesaid building, they

tion.

shall have the same rights and privileges of condemnation

and proceed in the same manner as provided for condemnation

of property by corporations in Article 23, Code of Public

General Laws of Maryland, Sections 248 to 253 inclusive.

SEC. 8. And be it enacted, That this Act shall take effect

from the date of its passage.

Approved March 18, 1904.

CHAPTER 101.

AN ACT to repeal Section 85L of Article 23 of the Code of

Public General Laws, title "Corporations," sub-title "Gen-

eral Regulations." as enacted by the Acts of 1892, Chapter

109, and to re-enact the same with amendments.

SECTION 1. Be it enacted by the General Assembly of Mary-

land, That Section 85L of Article 23 of the Code of Public

General Laws, title "Corporations," sub-title "General Reg-

ulations," as enacted by the Acts of 1892, Chapter 109, be

and the same is hereby repealed and re-enacted so as to read

as follows:

85L. The stockholders of every such corporation shall be

held individually responsible equally and ratably and not one for

Stockholders

another for all contracts, debts and engagements of every such

individually
responsible.

corporation to the extent of the amount of their stock therein

at the par value thereof, in addition to the amount invested

in such stock. Persons having stock entered on the books of

the corporation in their names as executor, administrator.

guardian, trustee or pledgee shall not be personally subject to

any liability on such stockholders, but the person pledging