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The Maryland Code Public General Laws, 1904
Volume 393, Page 297   View pdf image (33K)
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ART. 11] REFUSAL TO PAY NOTES—TRUSTEE. 297

stating that a bank located in the county or city refuses to pay
specie for its notes, and upon the court being fully satisfied
that such bank does refuse to pay specie for its notes, the said
court may order its clerk to issue a scire facias in the name of
the State of Maryland, and directed to the said bank by its
corporate name and style, to show cause why its charter shall
not be declared forfeited by the judgment of the said court.

Bank of Md. v. Ruff, 7 G. & J. 448. Planters' Bank v. Bank of Alexan-
dria, 10 G. & J. 346.

1888, art. 11, sec. 3. 1860, art. 12, sec. 10. 1834, ch. 305.

3. When any such bank shall appoint a trustee or trustees
for the benefit of the creditors of such bank, any court of
equity having jurisdiction where the said bank is situated or
has its office may in its discretion appoint, in place of such
trustee or trustees, or any of them, any other person or persons

who shall be nominated and recommended by a majority in
amount of the creditors of said bank, if the said court shall be
satisfied that the interest of the creditors of said bank requires

such appointment.

Ibid. sec. 4. 1860, art. 12, sec. 11. 1834, ch. 305.

4. In all such cases, the majority of the creditors in amount
shall have the right on application made to the said court to
require the trustee or trustees who shall be appointed by any
bank for the benefit of the said creditors to give bond and
security to the State of Maryland in such sum and with such
security as the said court may require and approve, for the
faithful performance and execution of the trust; and on
neglect or refusal so to do, to surrender up the trust; and the
said bond shall be filed and recorded with all other of the pro-
ceedings, and a copy of the same, authenticated in the usual
form, shall be evidence.

Ibid. sec. 5. 1860, art. 12, sec. 12. 1852, ch. 314, secs. 1, 6.

5. Every bank and incorporated institution in this State

which is in the habit of receiving deposits and declaring
dividends shall cause to be published in some newspaper
printed in the county in which such bank or institution may
be located, or in the city of Baltimore, as the case may be,
once a week for three successive weeks in the month of
September in each year, a list of the deposits and dividends
which have been of more than three years' standing, and


 

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The Maryland Code Public General Laws, 1904
Volume 393, Page 297   View pdf image (33K)
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