ACT. 23. ] CORPORATIONS. 61

eral Laws of Maryland of 1888, title "Corporations, " sub-title

"General Regulations, " as the same was originally enacted by
the Acts of the General Assembly of Maryland of 1892, Chapter
109, and repealed and re-enacted by the Acts of the General
Assembly of Maryland of 1904, Chapter 101, and as the same
how appears in the Code of Public General Laws of Maryland

of 1904, Article 23, Section 104, title "Corporations, " sub-title
"General Regulations, " be and the same is hereby repealed and
re-enacted with amendments so as to read as follows:

85L. The stockholders of every such safe deposit, trust and
loan company or association shall be held individually respon-
sible equally and ratably and not one for another, for all con-
tracts, debts and engagements of every such corporation to the
extent of the amount of their stock therein at the par value
thereof, in addition to the amount invested in such stock. Per-
sons having stock entered on the books of the corporation in
their names as executor, administrator, guardian, trustee or
pledgee shall not be personally subject to any liability on such

stockholders, but the person pledging the stock and the estate
and funds in the hands of such executor, administrator, guard-
ian or trustee shall be subject to the liability imposed upon the
holders of said shares. And the liability of such stockholders
shall be an asset of the corporation for the benefit ratably of
all the depositors and creditors of any such corporation, if
necessary, to pay the debts of such corporation, and shall be
enforceable only by appropriate proceedings by a receiver, as-
signee or trustee of such corporation acting under the orders
of a court of competent jurisdiction; provided, that this Act
shall not affect the rights or remedies of any creditor or depos-
itor under the existing laws of this State against the stock-
holders of any such corporation, who were liable to any such
creditor or depositor at the date of the passage of this Act;
and provided further, that nothing in this Act shall be consid-
ered as a construction by the Legislature of the law hereby re-
pealed.

SEC. 2. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved March 30,. 1908.

CHAPTER 322.

AN ACT to amend Article 23 of the Code of Public General
Laws of Maryland, title "Corporations, " sub-title "Insur-
ance, " by adding certain sections thereto, to be designated