286

LAWS OF MARYLAND.

issued by authority of its charter, and notes of

other banking corporations, received at their par

value by the banks so paying them out.

SEC. 5. And be it enacted, That if at any time the

said corporation shall neglect or refuse to pay in

legal tender currency of the United States, any

of its notes, bills, obligations, or any money re-

ceived on deposit, in violation of the contract,

promise or undertaking of said corporation, the

Recover in-
terest.

person or persons entitled to demand and receive
such payment shall respectively receive and recover

interest on said bills, notes, obligations and depos-

its, until the same shall be fully paid and satisfied,

at the rate of six per centum per annum, from the

time of such demand.

SEC. 6. And be it enacted, That if the said corpo-

ration shall neglect or refuse to pay, as aforesaid,

any of its notes, bills, obligations or money re-

ceived on deposit, the holder of such note, bill or

obligation, or the person or persons entitled to

demand and receive such money, shall be respec-

tively entitled only to demand and receive, as

Receive claim

creditor or as debtor, to claim and set off such

set off.

part of the sum of its assets as shall be actually

distributable and payable to such creditor or debtor

at the time when such claim or demand may be

made.

SEC. 7. And be it enacted, That if the said corpo-

ration shall, at any time, suspend its payments,

the assets which said corporation may hold, or be

Assets to be

in any wise entitled to at the time of such suspen-

ratably dis-

sion of payment, shall be ratably distributed to

tributed.

and amongst all the persons who shall be its cred-

itors at such time, and to their assigns respectively.

SEC. 8. And be it enacted, That the continuance

of the said corporation shall be on the condition

that the stockholders thereof shall be liable to the

amount of their respective share or shares of stock

in such corporation, for all its debts and liabilities,

Director not

upon note, bill or otherwise ; and, upon the further

to borrow

condition, that no director or other officer of said

money.

corporation shall borrow any monies from said