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CHAP. 1 77.
County court on
application that
banks refuse spe-
cie for their notes,
authorised to issue
scire facias, &c.
After proof of
serving court may
declare charter to
to forfeited, &c.
Court to appoint
commissioners to
settle concerns of
said bank.
Court to deter-
mine manner of
proceeding of
commissioners, &c.
Persons aggrieved
by commissioners
may put their
bond in suit.
Officer of director
refusing to deliver
up any books or
property to be
sued, &c.
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4. And be it enacted, That upon application made to any county
court in this state, supported by affidavit to be filed in the case,
stating the fact, that a bank located in the country refuses to pay
specie for its notes, and upon the court being fully satisfied that
such bank does refuse to pay specie for its notes, the said court
may and hereby is authorised and empowered, to order its clerk to
issue a scire facias, in the name of the state of Maryland, directed
to the said bank, by its corporate name and style, to shew cause
why its chatter shall not be declared forfeited by the judgment of
the said court.
5. And be it enacted, That after satisfactory proof of service of
any scire facias, issued under this act, the court may upon proof
of the fact of refusal by the bank to pay specie for its notes, after
a full investigation of the concerns and situation of the bank, if in
their judgment and opinion the public interests shall require it, de-
clare and adjudge the charter of the. bank to be forfeited.
6. And be it enacted, That the court declaring and adjudging the
forfeiture of the charter of any bank, (if in their opinion the in-
terest of the creditors shall require it,; shall appoint three com-
missioners to settle and close the concerns of said bank, and shall
thereupon pass an order directing the president, cashier, directors
and all officers of the bank, to deliver up the books and property
of said bank of every description, to the said commissioners.
7. And be it enacted, That the said court shall determine and ad-
judge the course and manner of proceeding to be pursued by the
said commissioners in the performance of their trust, and in the
collection, by instalments or otherwise, of the debts due to the
banks, always taking care of the interests of the. creditors of the
bank in the first place, and then the interests of the stockholders;
and the said commissioners before they proceed to act, shall jointly
and severally give bond to the state of Maryland, with security to
be approved by the court, in the penalty of such sum as the court
shall think requisite, for the faithful discharge of the trust reposed
in them, and for the execution and performance of any future or-
der of the court in the premises, which bonds shall be filed and re-
corded with all other of the proceedings, and a copy of the same
authenticated in the usual form, shall be evidence in any court of
law or equity in this state; and in any suit or suits brought on said
bonds, wherein an authenticated copy of the same shall be offered
in evidence, the plea of non est factum shall not be received to any
such action, unless the same is verified by the affidavit of the de-
fendant or defendants tendering the same.
8. And be it enacted, That any person conceiving himself or her-
self aggrieved by the conduct of the commissioners to be appoint-
ed under this act. may put the said bonds in suit, and recover such
damages as shall be assessed by a jury, under the direction of the
court.
9. And be it enacted, That if any officer or director shall refuse
to deliver up to the commissioners to be appointed as aforesaid,
any books or property of the bank, the officer or director so of-
fending shall be liable to be sued by the said commissioners, in a
special action on the case, for the recovery of the value or amount
thereof, and the jury shall give damages to the said full value or
amount, and the court before whom the recovery shall be had shall
treble the said damages and give judgment therefor with costs.
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