PRIVATE ACTS. 1331

SEC. 11. And be it enacted, That if the corporation shall at
any time suspend its payments, the assets which the corpora-
tion may hold or be in any wise entitled to at the time of sus-
pension of payment shall be ratably distributed to and among
all the persons who shall be it creditors at such time and to
their assigns, respectively; provided, however, that said Com-
pany shall be subject to the provisions of Article 11 of the Pub-
lic General Laws of this State, title "Banks," and any amend-
ments thereof, and the liability of the stockholders thereof shall
at all times be determined by the laws of the State in force at
the time the said liabilities may attach; and further provided
that said Company shall not be subject to Article 3, Section 25
of said Article 11.

SEC. 12. And be it enacted, That if the directors should at
any time suspend active business operations or workings of
said corporation, and a majority of the stockholders in general
meeting determine to close the banking operations, thenceforth
it shall not be lawful for the corporation to resume the exer-
cise 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 and their assigns.
Provided further that this Company shall be exempt from the
provisions of Section 22, Article 11 of the Public General Laws
of Maryland, title "Banks."

SEC. 13. And be it enacted, That this Act shall take effect
from the date of its passage.

Approved April 11, 1910.

CHAPTER 419.

AN ACT to repeal Chapter 72 of the Acts of 1908, entitled "An
Act to Extend the Privileges, Enlarge the Powers, Amend
and Ratify the Charter of Calvin B. Taylor Banking Com-
pany of Berlin, Maryland," and to re-enact the same with
amendments.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Chapter 72 of the Acts of 1908, entitled "An Act to
extend the Privileges, Enlarge the Powers, Amend and Ratify
the Charter of Calvin B. Taylor Banking Company of Berlin,
Maryland," be and the same is hereby repealed and re-enacted
with amendments so as to read as follows:

Whereas, The "Calvin B. Taylor Banking Company of Ber-
lin, Maryland," in Worcester County, in the State of Maryland,
was duly incorporated on the thirteenth day of December, in