ART. 23] PROHIBITED LOANS—CALLS. 563

1888, art. 23, sec. 68. 1868, ch. 471, sec. 63.

76. If any of the trustees, directors or managers of such
corporation shall object to declaring such dividend, or to the
payment of the same, and having voted against the declaration
thereof, shall at any time before the time fixed for the payment
of the same, 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 preceding section.

Ibid. sec. 69. 1868, ch. 471, sec. 64. 1898, ch. 228.

77. No loan of money shall be made by any such corpora-
tion 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, in the event of the insol-
vency of such corporation, be jointly and severally liable for
all the debts of the corporation contracted before the making
of said loan to the extent of double the amount of any loss
arising out of the said loan; this section shall not, however,
apply to any building or homestead association or any associa-
tion for the loan of money on real or personal property, or to
any savings institution or other corporation receiving money
on deposit or authorized by its charter to receive money on
deposit.

Fisher v. Parr, 92 Md 274.

Ibid. sec. 70. 1868, ch. 471, sec. 65.

78. 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 instalments 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 corporation is located.

Hughes v. Antietam Mfg. Co., 34 Md 316. Scarlett v. Academy of Music,
43 Md. 203. Ibid., 46 Md. 151. Morrison v. Dorsey, 48 Md. 473. Granite
Roofing Co. v. Michael, 54 Md. 67. Crawford v. Rohrer, 59 Md 605.

Ibid. sec. 71. 1868, ch. 471, sec. 66.

79. When any person or persons owning five per cent, of
the capital stock of any corporation formed under the pro-