598 .

LAWS OF MARYLAND.

he 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 future meetings of the stock-
holders of said bank; 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; and provided further, that three-fifths

Eesi lents.

of the capital stock of said bank shall be always
held and owned by bona fide residents of the State
of Maryland, and the last transfer, subscription or
assignment whereby the amount of capital stock
in the hands or names of non-residents of this
State would be increased in the aggregate to more
than three-fifths of the whole capital stock of said
bank issued or subscribed, shall be inoperative and

Voting.

void, and before any person or persons shall be
suffered to vote any stock of said bank at any
stockholders' meeting, either for the election of
Directors or for any other purpose, he, she or they
shall, if required by any stockholder or Director,
make oath or affirmation, before a Justice of the
Peace of Wicomico County, that the stock which
is so proposed to be voted for by him, her or them
is truly and bona fide his, her or their stock, as the
same stands on the books of the bank or in the
certificate therefor held by him, her or them.

Liability.

Sec. 3. And be it enacted, That the stockholders
shall be liable to the amount of their respective
share or shares of stock in such banking institu-
tion for all its debts and liabilities upon note, bill
or otherwise; the hooks, papers and accounts of said
Wicomico Exchange Bank shall be open to inspec-
tion, under such regulations as may be prescribed
by law.

In force.

Sec. 4. And be it enacted, That this Act shall
take effect from the date of its passage.

Approved April 4, 1870.