802

LAWS OF MARYLAND.

of the Legislature, nor to any one corporation or

person an amount exceeding, at any one time, ten

per cent, of the capital stock actually paid in ; and

the capital stock and funds of said corporation shall

be deemed and taken to be personal and not real

estate.

Not lawful

SEC. 24. And be it enacted, That it shall not be law-

ful for the said corporation to make discounts in, or

pay out any bonds or money, other than gold or sil-

ver coin, the lawful currency of the United States,

notes issued, by the authority of this charter, and

notes of other banking institutions received at their

par value by the * * * eo paying them out.

Neglect or re-

SEC. 25. And be it enacted, That if at any time the

fuse to pay.

said corporation shall neglect or refuse to pay in gold

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

of its notes, bills or obligations, or money received

on deposit, in violation of the promises, contract or

undertaking of the said corporation, the person or

persons entitled to demand and receive such pay-

ment, shall respectively receive and recover interest

on said bills, notes, obligations and deposit until the

same shall be fully paid and satisfied, at the rate

of six per centum per annum from the time of such

demand.

Continuance.

SEC. 26. And be it enacted, That the continuance

of said corporation shall be on the condition that

stockholders thereof shall be liable to the amount of

their respective share or shares of its capital stock,

for all its debts and liabilities upon note, bill or

otherwise, and upon this further condition that this

act and every part of it may be altered from time to

time or repealed by the Legislature.

SEC. 27. And be it enacted, That if the corporation

Suspend its

shall at any time suspend its payments, the assets

payments.

which the corporation may hold, or be in anywise

entitled to at the time of such suspension of payment,

shall be rateably distributed to and among all the

persons who shall be its creditors at such time, and

to their assigns respectively.

Suspend active
operations.

SEC. 28. And be it enacted, That if the president and
directors shall at any time suspend the active busi-

ness operations or workings of the said corporation,