PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

SEC. 7. And be it enacted, That nothing herein
contained shall be construed to confer banking privile-
ges on said corporation, or the power of issuing bank
notes, or notes in the nature of bank notes, or paper in-
tended to circulate as bank notes or currency.

CHAP. 553.

Banking forbid.

SEC. 8. And be it enacted, That if the association
shall at any time incur debts to more than the amount
of their capital paid in and assets in hand, then this
charter shall be forfeited and the directors sanctioning
and consenting to the contraction of such debt or debts,
shall be responsible in their individual capacities for the
excess of such liabilities over and above the avails of
the property and credits of the association; but such di-
rectors as do not so consent, shall not be responsible.

Liabilities not
to exceed capi-

tal.

SEC. 9. And be it enacted, That this act shall con-
tinue in force until the first day of January, in the year
eighteen hundred and seventy-one, provided however,
that it may be altered or repealed at. any time, at the
pleasure of the General Assembly.

CHAPTER 553.

In force.

Proviso.

An act to Incorporate East Newmarket Female Sem-
inary.

Passed
March 9, 1850.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That James Thompson, John T. Hous-
ton, John Webster, Henry W. Houston, William V.
M. Edmondson, Thomas I. Saxton, James N. Sher-
man, Kendall M. Jacobs, James Davis, and Turpin
Wright, be and they are hereby appointed trustees of
the East Newmarket Female Seminary, in Dorches-
ter county, and they are hereby declared to be one
community, corporation, and body politic, with suc-
cession in deed and in law, to all intents and purpo-
ses connected with the institution, by the name and
style of the East Newmarket Female Seminary, by
which name and title, they and their successors shall
be competent and capable in law and in equity, to
take and to hold to themselves and their successors,
for the use of the said seminary, any estate in lands
and tenements, annuities, goods, chattels, monies or
effects, by the gift, grant, bargain, sale, conveyance,
devise or bequest of any person or persons whatso-
93

Incorporated,
etc.