1839.

LAWS OF MARYLAND.

CHAP. 215
To refund sub-

scriptions.

Land to revert

to owner.

the president and managers thereof to refund to the stock-
holders, in just proportions, all that shall have been sub-
scribed and paid up to such time towards the capital stock
of said company, reserving out of the same simply that
which shall be required to defray the necessary expenses
then actually incurred; and upon the refunding to the
stockholders as aforesaid, then any land or property that
shall have been condemned for the use of said company,
shall revert to and belong to the person or persons to
whom the same belonged at the time it was so condemned,
as fully and effectually as if no inquisition whatever had
been had thereon.

Legislature
may inspect
books. &c.

And may pass
laws to prevent

imposition, &c.

SEC. 13. And be it enacted, That the legislature of
this State may at any time freely inspect the books and
concerns of the said company, or cause the same to be
done by a committee of either branch thereof; and shall
have the right to pass such act or acts as may become ne-
cessary to prevent any imposition or injustice being prac-
tised either upon the public or upon any individual, by
said company, its officers or servants, and to compel them
to keep the said road, canal or navigable way, in good re-
pair and proper condition.

Dividends.

In case of ex-

cess.

SEC. 14. And be it enacted, That the dividends of the
nett profits, not exceeding the rate of ten per cent, per
annum, shall be declared and paid half yearly; and that if
at any time the aggregate of nett profits of the said com-
pany shall have amounted to a sum exceeding the rate of
ten per cent, per annum, the excess thereof, instead of
being distributed by way of dividends, shall be appropri-
ated to the extension or improvement of the said compa-
nies works and appendages, unless in a general meeting
the stockholders they shall determine otherwise.

Banking forbid.

SEC. 15. And be it enacted, That nothing herein con-
tained, shall be so construed as to authorise the company
to issue any note, draft, scrip note, order, certificate, evi-
dence of debt or token, to be used as currency.

Rights reserved.

Proviso.

SEC. 16. And be it enacted, That the right is hereby
expressly reserved to the legislature to alter, amend or an-
nul this charter, and to regulate the tolls of said company;
and provided, that if the said company shall not bona fide
commence their works in two years, and complete the
same in seven years, then this act shall be, and it is here-
by declared to be forfeited and of none effect.