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and shall also file with said resolution, a statement
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CHAP. 313.
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of its affairs, shewing that it had fulfilled all of its
|
Charter changed
|
obligations, and is free from debt: the estate of the
|
 
|
said company, shall become the property, and at its
|
 
|
actual cask value shall be deemed part oi' the capital
|
 
|
of the Chesapeake Bank hereby incorporated, or in-
|
 
|
tended to be; and for the sum of said value, as near-
|
 
|
ly as may be, shares of stock in the said bank shall
|
 
|
vest in and be allotted to the proprietors of the
|
 
|
said company, severally and ratcably, according to
|
 
|
their respective interests in its estate; and the pre-
|
 
|
sident and directors of said bank shall distribute
|
 
|
rateably amongst and pay to the said proprietors
|
 
|
the excess of said estate, over the par value of the
|
 
|
shares which shall have been allotted as aforesaid:
|
 
|
and so soon as the resolution and statement afore-
|
 
|
mentioned shall have been filed as is herein before pro-
|
 
|
vided, the rights of action of the said company shall
|
 
|
become and be, without any interruption, diminution or
|
 
|
enlargement, the rights of the said hank; and the char-
|
 
|
ter of the said company shall thereupon cease to be in
|
 
|
force, and be considered as having been surrendered,
|
 
|
and thereby made utterly null and void.
|
Incorporated
|
SEC. 2. And be it enacted, That the persons who
|
 
|
shall be the proprietors of the shares of the capital
|
 
|
stock, that shall be allotted as is hereinbefore provi-
|
 
|
ded, and all and every other person or persons who
|
 
|
shall hold any of the capital stock, by this act
|
 
|
authorised to be created, their successors and assigns,
|
 
|
shall be and they are hereby made and declared to be a
|
 
|
corporation and body politic, by the name and style of
|
Bill 1836
|
the Chesapeake Bank, and shall so continue until
|
 
|
the end of the year eighteen hundred and fifty- six,
|
 
|
and the expiration of the first session of the Gene-
|
 
|
ral Assembly which shall he held thereafter, and by
|
 
|
that name, shall be and are hereby made able and capa-
|
 
|
ble in law to sue and be sued, plead and be impleaded,
|
 
|
answer and be answered, defend and be defended, in
|
 
|
courts of record, or in any other place whatsoever;
|
 
|
also to make, have and use a common seal, and the
|
By-laws
|
same to break, alter and renew at their pleasure; and
|
 
|
to ordain, establish and put in execution such by-laws,
|