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Session Laws, 1908 Session
Volume 483, Page 42   View pdf image (33K)
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42 LAWS OF MARYLAND.

shall leave at the principal office of the corporation a notice in
writing that he has seized the stock of the defendant (naming
him and the purpose for which he has seized the same), and
shall retain a copy of such notice and return it with the writ,
the precise time of service being endorsed thereon. Upon
receipt of such notice, the president or officer of the corpora-
tion to whom the. same shall have been delivered, shall state
in writing to the sheriff or other execution officer, the number
of shares of stock standing in the name of the defendant at the
time of such notice; and if the president or other corporate
officer shall refuse or neglect for twenty-four hours to deliver
such statement, the sheriff or other execution officer shall cer-
tify the fact to the Court to which the writ is returnable, or
to any judge thereof; and the said judge or court may order
an attachment for contempt against such president or other
corporate officer, and may compel him to answer under oath on
oral examination, as to the number of shares of stock in the
name of such defendant at the time of service of such notice,
and may compel the production of the books of the corpora-
tion, and also fine the president or other officer for not giving
the required statement. When the sheriff or other execution
officer has ascertained the number of shares of stock standing
in the name of the defendant he shall make a schedule thereof,
or of so much thereof as will be amply sufficient to secure the
debt and costs, and shall give notice to the corporation that
the shares not included in this schedule are released. There-
upon such proceedings shall be had under the writ of execution
or attachment as if the shares so seized were real estate; and
they shall be transferred to the purchaser on the books of the
corporation by such sheriff or other execution officer, or by
such person as shall be named by the court to which said writ
is returnable. It shall be the duty of the corporation to issue
to the purchaser at the sale made by the sheriff or other execu-
tion officer a certificate for such shares, but such certificate
and all renewals and substitutions therefor shall have stamped
thereon the statement that they are issued under and subject
to the provisions of this article, and if such be the fact, that
the original certificate is outstanding.

SEC. 44. If any corporation shall refuse to permit any trans-
fer or to issue a new certificate as authorized to be made and
issued by the preceding section, the Court to which the writ
is returnable or any judge thereof in vacation may punish by
process of contempt all persons so refusing to permit such
transfer or to issue such certificate and the corporation shall
be liable for all damages sustained by the purchaser by reason
of the refusal to make such transfer and issue such certificate.

 

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Session Laws, 1908 Session
Volume 483, Page 42   View pdf image (33K)
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