ODEN BOWIE, ESQUIRE, GOVERNOR. 573
subject to all the limitations, restrictions and con-
ditions of the several banks comprehended in the
Act entitled "an Act to continue the corporate
existence of the several banking institutions there-
in mentioned, passed at January session, eighteen
hundred and fifty-three, Chapter four hundred
and forty-one, and the supplement or amendment
thereto passed at January session, eighteen hun-
dred and fifty-four, Chapter one hundred and fifty-
two, and any other supplement or amendment
thereto which has been heretofore, or may here-
after be passed.
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Continue cor-
porate exis-
tence.
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Sec. 2. And be it enacted, That the aforenamed
Commissioners, or a majority of them, shall ap-
point the time and place of receiving subscriptions
to the capital stock of said bank; and give notice
thereof in the various newspapers printed in the
city of Cumberland; and at the time and place so
appointed, shall proceed to receive such subscrip-
tions, and as soon as fifty thousand dollars of said
capital stock shall have been subscribed and paid,
and not before, the said bank shall be authorized
to go into operation, and a meeting of the said
subscribers shall then be held for the purpose of
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Subscriptions.
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electing a President and Board of Directors of said
Bank, and of adopting rules, orders, by-laws and
regulations for the government of said Bank, its
officers and agents, and said by-laws shall fix the
number of Directors to be elected for said Bank,
and also the times at which future elections shall
be held, and all such by-laws shall be subject to
alteration, amendment and repeal at any and all
future meetings of the stockholders of said Bank;
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Elect Preside't
and Directors.
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provided, however, that all such by-laws, rules and
regulations which the said stockholders are hereby
authorized to adopt and establish, shall conform
to and be consistent with the provisions of this Act
and the laws of this State.
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Laws not
inconsistent.
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Sec. 3. And be it enacted, That the said Bank
may and shall have full power to buy and sell bills
of exchange; promissory notes, bonds and public
securities, and may receive deposits either current
or for specified times and pay interest thereon.
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Buy and sell.
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Sec. 4. And be it enacted, That the stockholders
of said Bank shall be liable to the amount of their
respective share or shares of stock, in said Bank,
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Liabilities.
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