1829.
LAWS
OF MARYLAND.
CHAP. 61.
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the institution, and the said board shall give notice,
to the
Stockholders annually or oftener, by publication or otherwise,
of the progress they may be making.
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Payment to be demanded
from debtors
not stockholders,
&c.
Discounts to be regularly
paid by all
debtors.
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Sec. 9. And be it enacted,
That it shall further be the duty of
the Board of Directors in addition to the general curtailment to
be required of all its debtors, to demand of those debtors who
are not Stockholders, and those whose debts exceed the amount
of stock they may respectively hold, to pay on the amount
of such debt, and on such excess, ten per cent at the
expiration of every six months, and on failure to do so, it shall
be imperative on the Board to sue immediately; and it is further
provided, that the discount shall be regularly paid by all
classes of debtors in addition to the required curtailments or
payments.
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Judgment debts.
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Sec. 10. And be it enacted,
That the foregoing section
prescribing the order and rates at which the debts of the Bank
are to be paid, are not to be understood as applying to any
debt which may have been reduced to judgment, or on which
suit may have been instituted, but it shall be the duty of the
Board of Directors, to collect such debts, with the least convenient
delay.
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By-laws, &c.
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Sec. 11. And be it enacted,
That the Board of Directors
under the revised charter, shall from time to time, have power
to make such by-laws, rules and regulations for the government
of the officer or officers of the Bank, and for other
purposes, consistently with the provisions of this act, as to
them may seem expedient.
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Officers—salaries.
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Sec. 12. And be it enacted,
That the President and Directors
shall appoint and pay such sum to agents or officers,
or agent or officer, as to them may seem necessary, with power
to dismiss the same or reduce their salaries, whenever in
the judgment of the President and Directors or a majority of
them, the interest of the Stockholders require it.
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Authority after
charter expires.
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Sec. 13. And be it enacted,
That should all the debts due
the Bank, not be collected, when the charter as revived and
continued by this act, shall expire, it shall notwithstanding the
termination of the charter, still be competent to the Bank to
collect its outstanding debts by suit or otherwise.
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Tax repealed.
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Sec. 14. And it being doubtful
whether the Bank is, or
ought to be bound to pay the tax imposed by the thirty-third
section of the original act of incorporation; Therefore, Be it
enacted, That said section be, and the same is hereby repealed.
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All acts inconsistent
hereto repealed.
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Sec. 15. And be it enacted,
[And be it enacted,] That all such
parts of the original Charter, and its several supplements, as
are repugnant to or inconsistent with, the aforegoing provisions
of this act, be, and the same are hereby repealed, and all such
parts of the said Charter, and its several supplements, as are
consistent with, and not repealed by this act, and the same
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