1838.

LAWS OF MARYLAND.

CHAP. 267.

dent and directors, within two years from the passage
of the act of incorporation, then all its provisions shall
be null and void, and if at any time the company shall
suspend their operations for the space of two years,
then their rights and privileges shall cease and their

Charter void.

charter shall he forfeited; but whensoever the said
corporation shall be dissolved, whether by the lapse of

time or any other cause, their corporate name, with

Rights preserved.

their right to sue and be sued, shall continue for the
purpose of collecting the debts due to the company,
prosecuting the rights, which shall have accrued under
their previous contracts, paying the debts due by them,
and satisfying all liabilities which they may have in-
curred, and for the distribution of the property of the

Charters limited to

30 years.

Sec. 16. And be it enacted, That all acts for the
incorporation of manufacturing or mining companies,
passed after the passage of this act, shall continue in

May be annulled.

force for the period of thirty years and no longer, and
shall at all times from the organization of the compa-
ny, be liable to be amended or repealed, at the pleasure
of the Legislature, in the same manner as if an express

provision to that effect was therein contained, unless

there shall have been inserted in such act of incorpo-
ration an express provision to the contrary.

Subject to exam-

ination.

Sec. 17. And be it enacted, That the president and
directors of such company, shall at all times exhibit
its books and property, condition, and so forth, to the
inspection of any stockholder therein, or of such com-
mittee or committees, as the Legislature may from time
to time, for that purpose appoint.

Restricted as to
mortgages.

Sec. 18. And be it enacted, That no company claim-
ing the benefit of this act, shall by deed of trust, mort-
gage, or otherwise, incumber their property, for the
purpose of giving the preference to one creditor over
another, and that whenever any such deed or mortgage,

shall be given to any one or more creditors, it shall

Rights reserved.

enure to the benefit of all the creditors of such compa-
ny existing at the time of such conveyance and
all such creditors shall be entitled to rateable satisfac-
tion out the property embraced by such conveyance.