PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1847;

purposes of their corporation, designate the officers of
said company and choose their officers, divide their cap-
ital stock into suitable shares, and provide for taking
subscriptions of stock, and provide in every other proper
manner for the government of said company.

CHAP. 240.

SEC 3. And be it enacted, That the persons herein
incorporated, shall be and are hereby made capable by the
name, of the Sassafras Steam Packet company, to sue
and be sued in any court of record or any other place,
to have a common seal and alter it at pleasure, never-
theless it shall be lawful for the General Assembly of
Maryland to incorporate any other company for similar
or the same purposes as are had in view by this company
and it shall be lawful for any and every individual to
engage in the same or similar business as that for which

this company is formed.

Corporate

powers, &c.

SEC. 4. And be it enacted, That if the debts of said
corporation shall exceed at any time the amount of two-
thirds of its capital actually paid in, the president and
directors under whose administration it may happen,
shall be liable for the same in their private and indivi-
dual capacities, and an action or actions may be brought
in such case against them or any of them in any court
of record in this State by any creditor 6r creditors of
the said corporation, and may be prosecuted to judgment
and execution, and any condition, covenant or agree-
ment to the contrary notwithstanding, but nothing here-
in contained shall be construed to exempt said corpora-
tion or the lands, tenements and estates of the same from

Individual
liability.

being liable for said excess; provided always, that the
president or such of the directors as may have been absent
when the said excess was created, or who may have dis-
sented from the resolution or resolutions or act or acts
whereby the same was created, may respectively ex-
onerate themselves from all personal liability by forth-
with giving notice of the fact and of their absence or
dissent to the stockholder at a general meeting which
they shall have power to call for that purpose.

Proviso.

SEC. 5. And be it enacted, That nothing in this act
contained shall be so construed as to confer any banking
privilege on the said corporation, or the right to issue any
note in the nature of a bank note.

Banking for-

bid.

SEC. 6. And be it enacted, That the General As-
sembly hereby reserves the right to repeal, alter or amend
this charter at any time hereafter whenever it may be
deemed expedient.

Reservation.