44

LAWS OF MARYLAND.

Suspension of
payments; dis-
tribution of
assets.

Sec. 10. And be it enacted, That if the said cor-
poration shall at any time suspend its payments,
the assets which said corporation may hold, or be
in any wise entitled to at time of such payment,
shall be rateably distributed to and amongst all
the persons who shall be its creditors at such time,
and to their assignees respectively.

Conditions of
act of incorpo-
ration.

Sec. 11. And be it enacted, That the provisions
of this act shall be on the condition that the stock-
holders and directors of said corporation shall be
liable to the amount of their share or shares of
ptock in said corporation for all its debts and lia-
bilities upon note, bill or otherwise; and upon
further condition that no director or other officer
of said corporation shall borrow any monies from
said corporation; and if any director or other offi-
cer shall be convicted upon indictment of directly
or indirectly violating this section, he shall be
punished by fine or imprisonment, at the discre-
tion of the court; 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from time to time or repealed by the Legislature.

Further con-
dition.

Sec. 12. And be it enacted. That the continu-
ance of this corporation be on this further concli-
tion, that the stockholders and weekly depositors
of the Fell's Point Savings Institution of Balti-
more shall, at a general meeting, called by the
directors, on due notice published in two of the
daily newspapers published in the city of Balti-
more, assent to and adopt this act by a vote of a
majority of the stock and weekly depositors, rep-
resented at such meeting in person or by proxy;
which assent shall be certified by a majority of the
directors, under the seal of the corporation, be
transmitted to the Clerk of the Court of Appeals,
and be by him recorded among the records of his
office.

Provision for
closing bank-
ing operations.

Sec. 13. That if the President and Directors or
a majority of the stockholders in general meeting
assembled, of the banking institution incorporated
under this act, shall at any time determine to close
its banking operations, thenceforth it shall not be
lawful for such 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 liabilities, the rermainining assets and property