284

LAWS OF MARYLAND.

SEC. 11. And be it enacted. That if at any time the said

To recover for
neglect or re-

corporation shall neglect or refuse to pay in gold or silver coin

fusal to pay

or certificates, or lawful money of the United States, any of

in lawful

money.

its notes, bills or obligations, or money received on deposit, in

violation of the promise, contract or undertaking of the said

corporation, the person or persons entitled to demand and re-

ceive such payments shall respectively receive and recover in-

terest on said bills, notes, obligations and deposit until the same

shall be fully paid and satisfied at the rate of six per cent, per

annum from the time of such demand.

SEC. 12. And be it enacted. That the said corporation may

Assignments.

purchase and take an assignment of any mortgage of any

building or land association, or any corporation or individual.

and shall hold the said mortgage with all the rights, powers

and privileges of the building or land association or corpora-

tion or individual assigning the same, and may enforce any

contract or stipulation in the same, and foreclose, assign or

release as fully and effectually as the assignor could have done.

SEC. 13. And be it enacted. That if the said corporation shall

Upon suspen-
sion, the as-

at any time suspend its payments, the assets which the cor-

sets to be

poration may hold or be in anywise entitled to at the time of

ratably dis-
tributed

such suspension of payments, shall be ratably distributed to

among cred-
itors.

and among all persons who shall be its creditors at such time,

and to their assigns, respectively.

SEC. 14. And be it enacted, That if the president and di-

Unlawful to

rectors should at any time suspend the active business opera-

resume after
suspension.

tions or working of said corporation, and a majority of the

stockholders in general meeting assembled determine to close

the operations thereof, thenceforth it shall not be lawful for

the corporation to resume the exercise of its powers and fran-

chise, but the same shall be closed, and after the payment of

its debts and liabilities, the remaining assets and property of

the corporation shall be divided pro rata among the stock-

holders or their assigns.

SEC. 15. And be it enacted. That the stockholders of said

Change of
name of cor-

corporation be and they are hereby authorized to change the

poration.

name of said corporation to the "Bank of Somerset" by the

vote of the holders of two-thirds of the stock thereof at any

regular or annual meeting of the stockholders, and should the

stockholders determine at said meeting to change the name of

said corporation, the chairman and secretary of said meeting

shall make a certificate of the change of name and sign the

same, and said certificate, verified by the affidavit of the said