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Revised Code of the Public General Laws, 1879
Volume 388, Page 324   View pdf image (33K)
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record a certificate of their objection, in writing, with the clerk of
the court, in which the original certificate of incorporation is filed,
they shall be exempt from the liability imposed in the last preceding

Id s 64
No loans to
24 Md 527

64. No loan of money shall be made by any such corporation to
any stockholder therein; and, if any such loan shall be made to any
stockholder, the officer or officers who shall make it, or who shall


assent thereto, shall be jointly and severally liable for all the debts
of the corporation contracted before the making of the said loan to
the extent of double the amount of said loan; this section shall not,

To what associa-
tions not appli-

however, apply to any building or homestead association, or any
association for the loan of money on real or personal property, or
to any savings institution.

Id s 65
Demand and
calling in of
43 Md 203,
46 Md 134

65. The trustees, directors, or managers of any corporation
created under this article, and having a capital stock, may call in
and demand from the stockholders, respectively, all sums of money
by them subscribed, at such times and in such payments and instal-
ments as the trustees, directors, or managers may deem proper,


under the penalty of forfeiting the shares of stock subscribed; and
all previous payments made thereon, if payment shall not be made
by the stockholders within ninety days after a personal demand, or


after a notice requiring such payment, published in a newspaper
printed nearest to the place where the principal office of the cor-
poration is located.

Id s 66
Statements of
affairs under

66. When any person or persons, owning five per cent, of the
capital stock of any corporation formed under the provisions of this
article, shall present to the treasurer or chief finance officer thereof,
a written request for a statement of the affairs of said corporation,
it shall be the duty of such treasurer or chief finance officer to make
a statement of the affairs of said corporation under oath, embracing
a particular account of all its assets and liabilities in minute detail,
and to deliver such statement to the person or persons who pre-
sented the said written request to the said treasurer or chief finance
officer, within twenty days after such presentation, and keep on file
in his office for six months thereafter a copy of such statement,

Open to

which shall, at all times during business hours, be exhibited to any
stockholder of said company demanding an examination thereof; if
such treasurer or chief finance officer, as the case may be, shall neg-
lect or refuse to make or deliver such statement as aforesaid, he
shall forfeit and pay to the person presenting said written request


the sum of fifty dollars, and the further sum of twenty-five dollars
for every twenty-four hours thereafter, until such statement shall be
furnished, to be sued for and recovered in any court having jurisdic-
tion over the person of such defaulting officers and cognizance of
said suit.

Id s 67
Book of stock-
holders' names

67. It shall be the duty of every corporation incorporated under
this article to cause a book to be kept by the treasurer or secretary
thereof, containing the names of all persons, alphabetically ar-


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Revised Code of the Public General Laws, 1879
Volume 388, Page 324   View pdf image (33K)
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