ART. 11.] DISTRIBUTION OF ASSETS. 109

1870, ch. 206, sec 9.

25. If the said corporation shall neglect or refuse to pay as
aforesaid, any of its notes, bllls, obligations or money received on
deposit, 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 part of its assets as shall be actu-
ally distributable and payable to such creditor or debtor, at the
time when such claim or demand may be mode.

Ibid. sec. 10.

26. If the said corporation shall, at any time, suspend its pay-
ments, the assets which said corporation may hold or be in any
wise entitled to at the time of such suspension of payment, shall
be rateably distributed to and among all the persons who shall be
its creditors at such time, and to their assigns, respectively.

Ibid. sec. 11.

27. The continuance of the said several corporations shall be
on the condition that the stockholders and directors of each of
said corporations shall be liable to the amount of their respective
share or shares of stock in such corporation, for all its debts and
liabilities upon note, bill or otherwise; and upon this further con-
dition, that this article and every part of it may be altered from
time to time, or repealed, by the legislature.

Ibid. sec. 12.

28. The provisions of sections 17 to 30, so far as may be
applicable in their privileges and restrictions to any and all banks
now existing under charter from the general assembly of Mary-
land, may be availed of by said bank or banks.

Ibid. sec. 13.

29. If the president and directors shall at any time suspend
the active business operations or workings of any banking institu-
tion incorporated under sections 17 to 30, other than as now
legally provided for, and a majority of the stockholders in gen-
eral meeting assembled determine to close its banking operations,