1836.

LAWS OF MARYTLAND

CHAP. 225.

Statement re-

quired

Treasurer of the Western Shore, a statement of the
whole number of shares of the said bank originally sub- .
scribed for, subsequently sold or disposed of, verified
by the affidavit of the said president and cashier.

Case of refusing
cosh payments

SEC. 10. And be it enacted, That if at any time the
said bank shall neglect or refuse to pay in gold and
silver, any of its notes, bills, obligations or any money
received on dcposite, in violation of the contract, pro-
mise or undertaking of said bank, the person or per-
sons entitled to demand and receive such payments
shall respectively receive and recover interest on said
bills, notes, obligations and deposites until the same
shall be fully paid and satisfied, at the rate of twelve
per centum per annum from the time of such demand;

Interest recove-

rable

provided, and so far as the assets of said bank shall be
sufficient to pay, over and above the sum of its debts and
common interest thereon, the said extra rate of interest.

Creditors'
claims in case
of failure

SEC. 11. And be it enacted, That if the said bank shall
neglect or refuse to pay as aforesaid, any of its bills,
notes, obligations or money received on deposite, the
holder of such notes, bills or obligations on the person
or persons entitled to demand and receive such money,
shall be respectively entitled only to demand and receive
as creditor, or as debtor to claim .and set off, such part
of the sum of its assets as shall be actually distributable
and payable to such creditor or debtor at the time when
such claim or demand may be made.

Ratable distri-
bution

SEC. 12. And be it enacted, That if the said bank
shall at any time suspend its payments, the assets which
the said bank may hold, or be in any wise entitled to
at the time of such suspension of payment, shall be
ratcably distributed to and amongst all the persons who
shall be its creditors at such time, and to their assigns
respectively; provided, the concerns of said bank shall
be or become, berore any such demand is made or set
off attempted, in process of being wound up for equit-
able distribution of its assets among all its creditors.

Denomination

SEC. 13. And be it enacted, That at any time here-
after the notes or issues of this corporation commonly
called and known as bank notes, may be restricted by
the legislature to a denomination not less than that of
the notes or issues of any other incorporated bank with-
in this State, the lowest denomination of whose notes
shall be above five dollars.