ART. 40. ] FORMATION, POWERS, AND REGULATION OF CORPORATIONS. 325
ranged, who are or shall have been within three years stockholders
of said corporation, and showing their places of residence, the num-
ber of shares held by them respectively, and the time when they
respectively became the owner of such shares, which book shall,
|
 
|
during the usual business hours of every business day, be open for
the inspection of stockholders or creditors of the corporation at the
principal office of the said corporation in this State; and every officer
or agent of any such corporation who shall neglect or refuse to ex-
hibit the same, shall be deemed guilty of a misdemeanor, and the
|
Open to stock-
holders and
creditors
|
corporation shall forfeit and pay to the party injured, a penalty of
fifty dollars for every such neglect or refusal, and all the damages
resulting therefrom, to be recovered in an action of debt before a
justice of the peace.
|
Penalty
|
68. It shall be the duty of every corporation formed under this
article, having a capital stock, to cause to be made in the first week
in January and July in each and every year, a full and particular
statement of the affairs of said company, verified by the oaths or
affirmations of its president and treasurer, or chief finance officer,
which statement shall consist of a particular account' of its assets
and liabilities in minute details, calculated to the time of making up
|
Id s 68
Annual state-
ment of affairs
under oath
|
the statement as aforesaid. Each of the said statements so made
up shall be recorded in a book kept in the principal office of the said
corporation in this State.
|
To be recorded
in corporation's
office
|
69. Any corporation formed under this article, or under the
general laws of this State, or under any special law, and having a
capital stock, may increase or diminish the same to any amount that
may be deemed sufficient and proper for the purposes of the cor-
poration by complying with the provisions of the following sections,
|
Id s 69
How capital
stock increased
or diminished
37 Md 522
|
but every corporation incorporated under any special law, which
shall so increase or diminish its capital stock, shall remain subject
in other particulars to all the limitations contained in its charter, or
in any supplement thereto; and every corporation incorporated
under the general laws of this State, or under this article, which
shall so diminish or increase its stock, shall remain subject in other
particulars to the provisions of this article.
|
Corporation
under special
law
|
70. Before any corporation shall be entitled to diminish the
amount of its capital stock, under the provisions of the last pre-
ceding section, if the amount of its debts and liabilities shall exceed
the amount of the capital to which it is proposed to be reduced,
such amount of debts and liabilities shall be satisfied and reduced,
so as not to exceed such diminished amount of capital.
|
Id s 70
Debts to be
satisfied and
reduced
|
7 1. Whenever any corporation shall desire to call a meeting of
the stockholders for the purpose of increasing or diminishing the
amount of its capital stock, the directors, managers, or trustees
shall publish a notice signed by at least a majority of them, in a
newspaper published in the county or counties, or city where the
principal office of said corporation is located, if any shall be pub-
lished therein, for at least four successive weeks, and shall send or
|
Id s 71
Notice of meet-
ing of stock-
holders to
increase, etc,
capital stock
|
|
|