464

LAWS OF MARYLAND.

or silver or lawful money of the United States any of

Failure to pay
note, &c.

its notes, bills, obligations, or money received on

deposit, in violation of the contract, promise or un-

dertaking of said corporation, the person or persons

entitled to demand and receive such payment shall

Interest allow-

respectively receive and recover interest on said bills,

ed.

notes, obligations and deposits until the same shall be

fully paid and satisfied at the rate of six per cent, per

annum from the time of such demand.

SEC. 18. And be it enacted, That if said corpora-

tion shall neglect or refuse to pay as aforesaid any of

its notes, bills, obligations, or money received on de-

posit, the holder of such note, bill or obligation, or the

In case of re-

person or persons entitled to demand and receive such

fusal to pay its

money, shall be respectively entitled only to demand

nores, &c.

and receive as creditor, or as debtor to claim and set

off such part of the sum of its assets as shall be

actually distributable and payable to such creditor or

debtors at the time when such claim or demand may

be made.

SEC. 19. And be it enacted, That if said corporation.

shall at any time suspend its payments, the assets

which said corporation may hold, or be in anywise

In case of sus-
pension.

entitled to at the time of such suspension of payments,

shall be ratably distributed to and among all the per-

sons who shall be its creditors at such time, and to

their assigns respectively.

SEC. 20. And be it enacted, That the continuance

of said corporation shall be on the condition that the

stockholders of said corporation shall be liable to the

Condition of

amount of their respective share or shares of stock in

continuance.

said corporation for all its debts and liabilities upon

note, bill or otherwise; and upon this further condi-

tion, that this act, and every part of it, may be altered

from time to time, or repealed by the legislature.

SEC. 21. And be it enacted, That if the president

and directors should at any time suspend the active

business operations or workings of said corporations,

other than as now legally provided for, and the stock-

In case of sus-

holders at a general meeting after such suspension, or

pending or clos-

at any other time, determine to close the banking

ing.

operations by the vote of two-thirds of the entire

capital stock of said corporation, represented in per-

son or by proxy, thenceforth it shall not be lawful for

said corporation to resume the exercise of its banking

powers and franchises, but the same shall be closed ;