THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1837.

be forfeited to the company, and may be sold by the di-
rectors for the benefit of the company or held by the
company, as may be deemed most advisable; but the
directors may remit any such forfeiture on such terms
as they shall deem proper.

CHAP. 80.

SEC. 12. And be it enacted, That the president and
directors of the company hereby incorporated, shall
have power to purchase any portion of the capital
stock of said company, and the same to hold or re-sell
at their pleasure; and .in all cases where any stockhol-
der may wish to dispose of the stock held by him or
her in said company, it shall be the duty of said stock-
holder first to offer the same to the president and direc-
tors of said company; and if the said company shall
offer as high a price for the said stock as could be ob-
tained elsewhere, then it shall be the duty of the said
stockholder to dispose of the same to said company.

Pre-emption

right.

SEC. 13. And be it enacted, That this act shall con-
tinue and be in force until the first day of January
eighteen hundred and sixty five, unless the business of
said company shall be previously brought to a close as
is hereinbefore provided for.

Limit 1865.

SEC. 14. And be it enacted, That nothing in this act
contained shall be so construed as to confer any bank-
ing privileges on said company, nor the right to issue
any note in the nature of a bank note.

CHAPTER 80.

Banking prohi-
bited.

An act for the relief of Thomas Brown, an Insolvent
debtor.

Passed Jan. 29,
1838.

Be it enacted by the General Assembly of Maryland,
That any judge of the orphans' court of Washington
county be, and he is hereby authorised and required to
grant to Thomas Brown, of Washington county, the
benefit of the several acts of Assembly passed for the
relief of insolvent debtors; provided, that the said
Thomas Brown comply with the provisions of the said
insolvent laws in all respects, except proving his resi-
dence for two years preceding his application.

Insolvent.