794

LAWS OF MARYLAND.

the lawful currency of the United States, notes issued by the
authority of this charter and notes of other banking institu-
tions received at their par value by the bank so paying them
out.

SEC. 20. 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 such pay-
ments, shall respectively receive and recover interest on said
bills, notes, obligations and deposit 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. 21. And be it enacted, That the said "Farmers and
Merchants' Bank" may purchase and take an assignment of
any mortgage of any building or land association, or any cor-
poration or individual, and shall hold the said mortgage with
all the rights, powers and privileges of the building or land
association or corporation, or individual assigning the same,
and may enforce any covenant or stipulation in the same, and
foreclose, assign or release as fully and effectually as the
assignor could have done.

Liability of
stockholders.

SEC. 22. And be it enacted, That the continuance of the
said corporation 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
notes, bills or otherwise, and upon this further condition that
this act and every part may be altered from time to time or
repealed by the legislature.

Suspension of
bank.

SEC. 23. And be it enacted, That if the corporation shall
at any time suspend its payments, the assets which the cor-
poration may hold, or be in any wise entitled to at the time of
such suspension of payments, shall he ratably distributed to
and among all persons who shall be its creditors at such time,
and to their assigns, respectively.

Unlawful to
resume.

SEC. 24. And be it enacted. That if the president and
directors should at any time suspend the active business opera-
tions or working of said corporation, and a majority of the
stockholders in general meeting assembled determine to close
the banking operation, thenceforth it shall not be lawful for