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Proceedings of the House, 1904
Volume 408, Page 1467   View pdf image (33K)
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1904.] OF THE HOUSE OF DELEGATES. 1467

hereby added to Article 23 of the Code of Public Gen-
eral Laws of Maryland, lo follow immediately after
section 85 L of said Article, and to appear therein as
section 85 L, One (1).

"85 L, One (1). The exclusive remedy for the en-
forcement against stockholders residing in the State
of Maryland, of the liability < reated by the foregoing
section, shall be by Bill in Equity in the nature of a
creditors' bill, filed against such stockholders by one
or more creditors on behalf of themselves and all other
creditors of the corporation who may come in and
make themselves parties thereto, in a Court having
jurisdiction within the limits of the county or the
city of Baltimore, in which, as the case may be,
the principal office of the corporation is situated
at the time of the filing of the bill, or in case
any such corporation has, by reason of having been
placed in the hands of a receiver, or from any other
cause, ceased to have any principal office at the
time of the filing of the bill, then the bill shall be
filed in a Court having jurisdiction within the limits
of the county or city of Baltimore, in which, as the
case may be, the said corporation had its last prin-
cipal place of busisess; and to any such bill, stock-
holders residing beyond the limits of the State of
Maryland may become parties defendant and upon so
becoming parties shall not be proceeded against in any
other state or territory or the District of Columbia in.
respect of the liability imposed by said section 85 L.
This section shall become operative as of January 1,
1903, and shall cause the abatement of all actions at
law which shall have been brought against such stock-
holders since that date to enforce the liability created
by section 85 L.; provided however, that as to any
plaintiff or plaintiffs in any of said abated suits who
shall, within sixty days from the passage of this Act,
become a party or parties to a bill in equity of the
character mentioned in this section, then, as regards
the operation of the statute of limitations upon the
claim so sued on, the time elapsed between the instis
tution of said abated suit and the time of such plaine
tiff or plaintiffs, becoming a party or parties to said
bill in equity, shall be excluded in ascertaining the

 

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Proceedings of the House, 1904
Volume 408, Page 1467   View pdf image (33K)
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