ELIHU E. JACKSON, ESQUIRE, GOVERNOR.

675

assignment of any mortgage of any building or
land association, or any corpora tion or individual,
and hold the said mortgage with all the rights,
powers and privileges of the building or land
association or corporation, or individual assign-
ing the same, and may enforce any covenant or
stipulation in the same, and foreclose, assign or
release the same as fully and effectually as the
assignor could have done.
SEC. 27. And be it enacted, That the continu-

May purchase,
etc.

ance of 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
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be altered from time to time or repealed by the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. 28. And be it enacted, That if the corpor-

Conditions to
continue.

ation shall at any time suspend its payments,
the assets which the corporation may hold, or be
in anywise entitled to at the time of such sus-
pension of payment, shall be ratably distributed
to and among all persons who shall be its credi-
tors at such times and to their assigns respect-
ively.
SEC. 29. And be it enacted, That if the president

Suspension.

and directors should at any time suspend the ac-
tive business operations or working of said cor-
poration, and a majority of the stockholders in
general meeting assembled determined to close
the banking operations, thenceforth it shall not
be lawful for the corporation to resume the ex-
ercise of its banking powers and franchises, 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 or their assigns.

Divided pro
rata.

SEC. 30. And be it enacted, That the General
Assembly of Maryland hereby reserves to itself
the right to alter, amend or repeal this act at its
pleasure.

Right reserv'd

SEC. 31. And be it enacted, That any and all
laws of this state inconsistent with the provi-
sions of this act be and they are hereby repealed,
so far as they apply to the Garrett county bank

Repealed.