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Session Laws, 1835
Volume 214, Page 425   View pdf image (33K)
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1835.

LAWS OF MARYLAND

CHAP. 298

seven hundred and seventy-five dollars, in three equal

 

annual payments, the first of said payments to he made

 

within thirty days after the said bank shall have gone

 

into operation, and a further bonus on the capital which

 

the said bank shall at any time have, over or above the

 

sum of two hundred and fifty thousand dollars, at and

 

after the rate of three dollars and seventy-five cents

 

on each one. hundred dollars thereof, and which bonus

 

shall be paid on the first day of January next, after such

 

capital shall have been received by the said bank.

Failure to pay

SEC. 12. And be it enacted, That if at any time the

its notes, &c

said hank shall neglect or refuse to pay in gold and

 

silver, any of its notes, bills, obligations or any money

 

received on deposite, in violation of the contract, pro-

 

mise or undertaking of said bank; vhe person or per-

 

sons entitled to demand and receive such payment,

 

shall respectively receive and recover interest on said

 

bills, notes, obligations and deposites, until the same

 

shall be fully paid and satisfied, at the rate of twelve

 

per centum per annum, from the time of such demand;

Extra interest

Provided, and so far as the assets of said bank shall be

 

sufficient to pay over and above the sum of its debts and

 

common interest thereon, the said extra rate of inte-

 

rest.

Bights of debtor or creditor

SEC. 13, And be it enacted, That if the said bank .

 

shall neglect or refuse to pay as aforesaid, any of its

 

notes, bills, obligations, or money received on depo-

 

site, the holder of such note, bill or obligation, or the

 

person or persons entitled to demand and receive such

 

money, shall be respectively entitled only to demand

 

and receive as creditor, or as debtor to claim and set

 

off, such parts of the sum of its assets, as shall be ac-

 

tually distributable and payable to such creditor or

 

debtor, at the time when such claim or demand may be

Proviso

made; Provided, the concerns of said bank shall be-

 

fore any such demand is made or set off attempted,

 

be or become in process of being wound up for equi-

 

table distribution of its assets among all its creditors.

Distribution of as-

SEC. 14. And be it enacted, That if the said bank

sets

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 rate-



 

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Session Laws, 1835
Volume 214, Page 425   View pdf image (33K)
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