1398 LAWS OF MARYLAND.

senting thereto shall be liable in their individual capacity for
the amount or proportion of the capital stock so divided by
the directors.

SEC. 9. And be it enacted, That the lands, tenements and
hereditaments which shall be lawful for the said corporation
to hold, shall be only such as shall be requisite for its imme-
diate accommodation in relation to the convenient transaction
of its business, or such as shall have been bona fide mortgaged
or conveyed to it by way of security, or in satisfaction for
debts, contracted in the course of its dealings, or purchased
at sale upon judgments or decrees which shall have been ob-
tained for such debts or foreclosures of mortgages, or at mort-
gagee's sales in case when mortgages conferring power on the
mortgagee to sell real estate mentioned therein have been exe-
cuted or assigned to such bank to secure such debt.

SEC. 10. And be it enacted, That the shares of the capital
stock of said corporation shall be transferable on the books
of said corporation only, in accordance with such rules as shall
be established by the board of directors, who shall have the
power to make such by-laws as they may deem proper for the
government and direction of the affairs of the corporation; but
all debts actually due and payable to the corporation by a
stockholder requesting a transfer of shares must be satisfied
before such transfer shall be made, unless the directors shall
direct to the contrary.

SEC. 11. And be it enacted, That if the corporation shall
at any time suspend its payments, the assets which the corpo-
rations may hold or be in any wise entitled to at the time
of such suspension of payment shall be ratably distributed to
and among all the persons who shall be its creditors at such
time, and to their assigns, respectively; provided, that nothing
in this Section shall be construed to relieve the liability of
stockholders under the general banking laws of the State.

SEC. 12. And be it enacted, That if the directors should at
any time suspend the active business operations or workings of
said corporation, and a majority of the stockholders in gen-
eral meeting, determine to close the banking operations, thence-
forth it shall not be lawful for the corporation to resume the
exercise of its banking powers and franchises, but the same
shall be closed, and, after the payment of its debts and liabili-
ties, the remaining assets and property of the corporation shall
be divided pro rata among the stockholders and their assigns,
provided, however, that the said company shall be subject to
the provisions of Article 11 of the Public General Laws of this
State, title, "Banks," and any amendments thereof, and the
liability of the stockholders thereof shall at all times be deter-