1835.

LAWS OF MARYLAND.

CHAP. 40.

or other article necessary for the use of the company;

General statements

and at the time of each annual election, and also at the

time of paying each dividend of profits, a general state-

ment of the affairs of the company shall be exhibited

for the inspection of stockholders.

Case of failling to

SEC. 8. And be it enacted, That the President and

pay instalments

Directors, or a majority of them, shall have full power

after giving at least thirty days notice by advertise-

ment, inserted in at least two newspapers in Balti-

more, to forfeit and dispose of, for the use of the com-

pany, any share or shares of stock, upon which one or

more instalments shall be due and unpaid, unless the

instalment or instalments so due, with interest thereon

from the time when the same shall have been made

payable, shall be paid before the day limited in such

notice, or the owner of such stock may be compelled

Liabilities

by action, to pay all such instalments; Provided al-

ways, that no stockholder shall be liable in his person

or property, for any contract of, or claim against, said

corporation, but that the joint stock, property, credits,

rights and effects of the said company, and nothing

Process

more, shall be liable for the same, and the service of

legal process within this State, on the President or

any of the Directors, shall be a sufficient service on

the aforesaid corporation.

Increase capital

SEC. 9. And be it enacted, That if the capital

of the said company shall be deemed insufficient for the

purposes of this act, by the President and Directors

thereof, or a majority of them, then they shall have

power from time to time, to increase the same by dis-

posing of as many additional shares as they, or a ma-

jority of them, may deem necessary, not exceeding

five thousand.

Individual liabili-ties in case of

SEC. 10. And be it enacted, That if the total amount

exceeding 2-3 of capital

of the debts which the said corporation may at any time

owe, shall exceed the amount of two-thirds of the capital

actually paid in, the Directors, under whose administra-

tion such excess may be created, shall be liable for the

same in their natural and private capacities; and an ac-

tion may in such case be brought against them, or any

of them, or their heirs, executors or administrators, in

any court of record of this State, by any creditor or