1835.

LAWS OF MARYLAND

distribution of its assets amongst all its creditors;

CHAP. 251.

And provided also, that if at any time the said Bank

shall refuse or fail to pay specie for any of its notes,

this State reserves the power to revoke the charter

hereby granted.

Case of failure to

SEC. 15. And be it enacted, That if the said bank

pay

shall at any time suspend its payments, the assets,

which said bank may hold, or be in any wise, entitled

to at the time of such suspension of payment, shall be

rateably distributed to, and amongst all the persons

who shall be its creditors, at such time and to their

assigns respectively.

Commissioners of loans

SEC. 14. And be it enacted, That whenever requir-

ed by law, the said bank shall do and perform any

of the appropriate duties of commissioners of loans

for this State, without charging or claiming any al-

lowance whatsoever for the same.

School tax para-

SEC. 15. And be it enacted. That on the first mon-

ble

day of January, subsequent to the organization of the

said bank, and on the same day annually thereafter,

the said bank shall pay or cause to be paid, to the

Treasurer of the Western Shore of Maryland, the sum

of twenty cents on every hundred dollars of the capi-

tal of said bank, then actually paid in, to be applied

by said treasurer in augmentation of the free school

fund of this State, in the same manner as the similar

tax paid by the incorporated banks in the city of Bal-

timore is now applied; and in case of the failure of the

said bank to make such payment for the space of six

months after the same shall have become payable, its

charter shall be forfeited, and shall be deemed null and

void.

Bonus

SEC. 16. And be it enacted, That the said bank or

the President and Directors thereof, shall in conside-

ration of the corporate privileges hereby granted to its

corporations, pay to the State of Maryland, in addi-

tion to the twenty cents in the hundred dollars as pro-

vided for heretofore, a bonus of eighteen thousand seven

hundred and fifty dollars, the payment to be made to

the Treasurer of the Western Shore in three equal an-

nual instalments, commencing for the first payment,