1034

LAWS OF MARYLAND.

SEC. 24. And be it enacted, That if at any time the said

Failure to
pay in legal
currency.

corporation shall neglect or refuse to pay, in gold or silver or
lawful money of the United States, any of its notes, bills or
obligations, or money received on deposit, in violation of the
promise, contract or undertaking of the said corporation, the
person or persons entitled, to demand and receive and recover
interest on said bills, 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.

May purchase
mortgages.

SEC. 25. And be it enacted, That the said "Hancock Bank"
may purchase and take an assignment of any mortgage of any
building or land association, or any corporation or individual,
and hold the same mortgage, with all the rights, powers and
privileges of the building and land association or corporation
or individual assigning the same, and may enforce any cove-
nant or stipulation in the same, and foreclose, assign or release
the same, as fully and effectually as the assignor could have
done.

Liability of
stockholders.

SEC. 26. And be it enacted, That the continuance of said
corporation shall be on the 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 this further condition, that
this act, and every part of it, may be altered from time to
time or repealed by the Legislature.

SEC. 27. And be it enacted, That if the corporation shall at

Suspension of
bank.

any time suspend its payments, the assets which the corpora-
tion 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. 28. And be it enacted, That if the president and direc-

Unlawful to
resume.

tors should at any time suspend the active business operations or
working of the said corporation, and a majority of the stock-
holders, in general meeting assembled, 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 stock-
holders or their assigns.