EDWIN WARFIELD, ESQ., GOVERNOR.

181

Sec. 20. And be it enacted, The continuance of said cor-

CHAP. 135

poration shall be on condition that stockholders thereof
shall be liable to the amount of their respective share or
shares of its capital stock for all its debts and liabilities,
upon note, bill or otherwise; and upon the further condition,
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to time or repealed by the Legislature.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 corporation shall at
any time suspend its payments, the assets which the corpo-

Stockholders
liable to the
amount of
their shares
of its capital
stock.

ration may hold or be in anywise entitled to at the time of
such suspension of payment shall be ratably distributed to
and among all the persons who shall be its creditors at such
time, and to their assigns, respectively.
SEC. 22. And be it enacted, That if the president and

Assets to be
ratably dis-
tributed.

directors should at any time suspend the active business
operations or workings of the said corporation, and a majority
of the stockholders, in general meeting, determine to close
the banking operations, thenceforth it shall not be lawful for
the corporation to resume the exercise of its banking powers
and franchise, but the same shall be closed, and after the
payment of its debts and liabilities, the remaining assets
and property of the corporation shall be divided pro rata
among the stockholders and their assigns.
SEC. 23. And be it enacted, That any and all laws of this
State inconsistent with the provisions of this Act be and the

When unlaw-
ful for corpo-
ration to
resume the
exercise of
its banking
powers.

same are hereby repealed so far as they apply to the Dime
Saving Bank of Cumberland, Maryland, named in this Act.
SEC. 24. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved March 22, 1906.

CHAPTER 136.

AN ACT to repeal Chapter 505 of the Acts of 1904, entitled
"An Act to abolish the County Insane Asylum in Allegany
County, and to provide for the pauper insane of said county
elsewhere."

Repeal.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, that Chapter 505 of the Acts of 1904, entitled "An
Act to abolish the County Insane Asylum in Allegany county,
and to provide for the pauper insane of said county else-
where," be and the same is hereby repealed.

Repeal.