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Session Laws, 1795
Volume 647, Page 70   View pdf image
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1795.

L A W S of M A R Y L A N D.

C H A P.
LXXVII.

do fo, and that thofe who do not make any further payments fhall not incur the
forfeiture of their fhares, as prefcribed by their charter of incorporation ;

Stockholders
may pay up,
&c.

II. Be it enacted, by the General Affembly of Maryland, That all and every
ftockholder in the bank of Columbia fhall and may, at any and at all times here-
after, pay up the feveral instalments remaining due on his, her or their fhare or
fhares, or any part thereof which he, fhe or they may think proper, and fhall
thereupon be entitled to receive the annual intereft or dividends on the amount of
the fum or fums fo paid in, in the fame manner he, fhe or they is or are now enti-

tied to receive the dividends on the original ftock already paid up; provided always,
that the intereft or dividends on fuch fum or fums fo paid in fhall not commence
until the firft day of the month next enfuing fuch payments; and provided alfo,
that the aggregate amount of voluntary payments fo made to the bank fhall in no
one year exceed the fum of one hundred thoufand dollars.

No forfeiture
to be incur-
red, &c.

III. And be it enacted, That no forfeiture fhall hereafter be incurred by any
ftockholder for non-payment of any of the remaining inftalments due on his, her
or their fhare or fhares, but he, fhe or they fhall be entitled to receive the inter-
eft and dividends due, and which may arife due, on the amount of the fum or
fums actually paid in by him, her or them, on any fuch fhare or fhares.

Share fold
may be paid
up, &c.

IV. And be it enacted, That if any original fhare or fhares in the faid bank
have been fold or transferred, under any contract or engagement that the party fo
felling or transferring, or having fold or transferred the fame, is to complete and
pay up the refidue of the inftalments due on fuch fhare or fhares, then and in
fuch cafe nothing in this act contained fhall be conftrued to prevent the fame be-
ing paid up at the times, under the circumftances, and in the manner, prefcribed
by the original act to which this is a fupplement.

V. And, whereas it is reprefented to this general affembly, that it is the de-
clared defire of the faid ftockholders to obtain the benefit of the provifions of this
act, although they have not fignified the fame in their corporate capacity: And
whereas this general affembly cannot confidently pafs the fame, unlefs with the
approbation of the faid body corporate, and although a previous application
therefor by them hath not been made, yet, from a confederation of the fpecial
circumftances of this cafe, it appears expedient to grant the prayer of the petition
of the faid prefident and directors, fubject to the conditions hereafter expreffed ;

Nothing here-
in to have
force until
contented to,
&c.

therefore, Be it enacted, That nothing herein contained fhall have any force,
validity and operation, nor to take effect, until the confent thereto of the ftock-
holders in the faid bank fhall be given, at a general meeting of the faid corpora-
tion, and tranfmitted, under their corporate feal, to the governor and council, to
be lodged among their proceedings.

C H A P. LXXVIII.

Paffed De-
cember 24.

An ACT to relinquifh the right of this ftate to the lands therein
mentioned.

Preamble.

WHEREAS it appears to this general affembly, that heretofore patents
have iffued to Normand Bruce, of Frederick county, for the follow-
ing tracts of land lying to the weftward of Fort Cumberland, in
Allegany county, to wit: Mount Pleafant, Egypt, Bear Camp, Lubberland,
Canaan, Pumphin Hall, Pond Lick, Walter Foard, Arnoe's Vale, Coal Wood
Dale, Piney Grove, and Lovely, and doubts exift as to the validity of the fame:
And whereas the faid Normand Bruce hath paid the compofition money and fees
of office on faid feveral tracts of land, and hath been for many years in the
peaceable poffeffion thereof, and it is reafonable that the right of this ftate there-
to be releafed.

Right re-

leafed, &c.

II. Be it enacted, by the General Affembly of Maryland, That the right of
this ftate in and to the following feveral tracts or parcels of land lying to the
weftward of Fort Cumberland, in Allegany county, to wit: Mount Pleafant,
Egypt, Bear Camp, Lubberland, Canaan, Pumphin Hall, Pond Lick, Walter



 
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Session Laws, 1795
Volume 647, Page 70   View pdf image
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