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Session Laws, 1933 Session
Volume 421, Page 1015   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 1015

debtor to pay his or its debts as they become due in ordi-
nary course of business; or because of an apparent excess
of liabilities over assets unless, in determining such ex-
cess, said assets shall be valued at their fair market value.

116B. Notwithstanding any allegation or proof of in-
solvency, the appointment of a receiver shall remain in all
cases within the sound judicial discretion of the court.

SEC. 2. And be it further enacted, That this Act shall
expire by limitation on the first day of June, 1934, unless
Chapter 46 of the Acts of 1933 shall be extended be-
yond that date, in which event the provisions of this Act
shall be extended for the same period and all of its pro-
visions shall continue and be in force during said period.

SEC. 3. And be it further enacted, That this Act is
hereby declared to be an emergency law and necessary for
the immediate preservation of public safety, and being
passed upon a yea and nay vote supported by three-fifths
of all the members elected to each of the two Houses of
the General Assembly, the same shall take effect from the
date of its passage.

Approved April 21, 1933.

CHAPTER 532.

AN ACT to authorize and empower the County Commis-
sioners of Talbot County to borrow upon the faith and
credit of said county a sum not to exceed in the aggre-
gate Two Hundred Thousand Dollars and to issue and
sell coupon bonds therefor for the purpose of providing
funds to pay outstanding notes and accounts evidencing
or constituting the floating indebtedness of said Talbot
County and for the purpose of providing funds to pay
current expenses of said county accruing in the fiscal
year ending June 30, 1933, and to provide for the pay-
ment of said bonds and the interest accruing thereon by
applying to the payment of said bonds and interest the
moneys received in the collection of taxes now due to
said county and in arrears, not heretofore levied for and
especially dedicated to the payment of outstanding bonds,
interest thereon and other purposes fixed by law and

 

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Session Laws, 1933 Session
Volume 421, Page 1015   View pdf image (33K)
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