192

LAWS OF MARYLAND.

and every year during the existence of this corpo-
ration, to make and declare such dividend of the
profits as shall have been made by the investments
hereinbefore proviiled for, after paying the expenses
of the Institution, and the same to pay over to the
members of said corporation, or their legal repre-
sentatives, within ten days thereafter.

Property.

Sec. 7. And be it enacted, That the lands, tene-
ments and hereditaments, which it shall be lawful
for said corporation to hold, shall be only such as
shall be requisite for its immediate accommodation,
in relation to the convenient transaction of its busi-
ness, and such as shall have been bona fide mort-
gaged or conveyed to it by way of security, or in
satisfaction of debts contracted in the course of its
dealings or purchases at sale upon judgment,
which shall have been obtained for such debt.

Weekly de-
positors.

Sec. 8. And be it enacted, That every weekly de-
positor, who shall have deposited one or more
dollars per week in said Monumental Savings In-
stitution for ten weeks or upwards, in the manner
authorized by the Act, may at his or her option,
by signing an agreement to that effect in a book
to be provided and kept at the office of the Insti-
tution for the purpose, convert the same or any
adequate portion thereof into a share or shares of
stock of the par value of ten dollars each, which
stock shall be a capital stock of the Institution,
and the deposits so converted into capital stock
shall not be liable to be withdrawn ; provided
always, that the whole number of shares of stock
which it shall be lawful thus to create, shall not
exceed fifty thousand, and that the Directors of

Limit shares.

the Institution, in their discretion, may limit the
number to ten thousand, or any greater number
not exceeding fifty thousand shares ; the said
shares of stock shall be assignable, by transfer,
by the holders in person or by attorney, in a book
to be kept for the purpose at the office of the In-
stitution, and shall be entitled to dividends of the
profits in common with all the weekly depositors.
At any general meeting of the Institution for
electing Directors or for any other purpose, every
member .whose weekly deposits shall have amount-
ed to five dollars shall be entitled, in person or by
proxy, to give one vote for every share of stock or