342
Proviso.
Board for the
transaction of
business.
Dividends.
Not to impair
capital Stock.
Compensat'n.
Call general
meeting.
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LAWS OF MARYLAND.
not exceed the amount of the capital actually paid
into said bank; provided that the money deposited in
the said bank for safe keeping shall not be considered.
as debts of the bank, within the provisions of this clause.
! ART. 8. The President and a majority of the Di-
: rectors shall constitute a board for the transaction of
business, but ordinary discounts may be made by the
President and a majority of the Directors; in case of
sickness or necessary absence of the President, his
place may he supplied by the Board of Directors.
ART. 9. Half yearly dividends shall be made to
the stockholders of so much of the nett profits of
the corporation as shall appear to the President and
Directors advisable, and such dividends shall be de-
clared at such fixed times as the stockholders in gen-
eral meeting shall determine, and shall be paid in
thirty days after they are declared, and if the direc-
tors shall at any time wilfully and knowingly make
or declare any dividend which shall impair the capi-
tal stock, all the directors present at the making or
declaring of such dividend, and consenting thereto,
shall be liable in their individual capacities to the
corporation for the amount or proportion of the said
capital so divided by the directors, and each director
who shall lie present at the making or declaring of
such dividend, shall be deemed to have consented
thereto, unless lie shall immediately enter his dissent
in writing in the minutes of the proceedings of the
board, and give public notice to the stockholders that
such dividend has been declared.
ART. 10. No director shall be entitled to recover
any emolument for his services, unless the same
shall be allowed at a general meeting of the stock-
holders, and the directors shall make such compen-
sation to the President for his ———— attendance at
the bank as shall appear to them reasonable.
ART. 11. The President and Directors of this cor-
poration may at any time call a general meeting of
the stockholders for any purpose relative to its af-
fairs, giving at least two weeks' notice in some news-
paper; and any number of stockholders, owning not
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