350
Eligibility.
Election of
Directors.
Plurality of
votes neces-
sary to a
choice.
Failure to
hold election
not to work
dissolution.
Rules and
regulations.
Shares, how
to be voted.
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LAWS OF MARYLAND.
by a President and Directors, and the number of
directors in this corporation shall not be greater than
twelve nor less than seven, and the number of direc-
tors in said corporation may be changed by the
directory from time to time, within the limits as to
the number aforesaid, and no person shalll be eligible
as a director, who is not the bona fide owner of at
least twenty shares of the capital stock of the bank,
and who is not also a citizen of tills State.
{Six1. 9. Am! be if enacted, That the election of direc-
tors of said hank .shall be held annually at the bank
on the second Tuesday in July, and the Board. of
Directors shall give at least ten days' notice, in two
or more daily newspapers published in Baltimore
city, and the stock! folders of said bank may vote
either in person or by proxy. Every election shall
be by ballot, and the plurality* votes thus cast
shall be necessary for a choice. The directors shall
elect a President from their own body annually, and
shall make such by-laws, rules and regulations, as
may be necessary for the prosecution of the business
of the bank. In case it should at any time happen
that an election of directors of said bank should not
be made so as to take effect on any day when, in
pursuance of law the same should take effect, the
corporation shall not, for that cause, be deemed to
be dissolved, but it shall be lawful at any time within
thirty days thereafter, to make such an election, in
such manner as shall be directed and provided for
by the ordinances of the bank; and in case of the
death, resignation, removal out of the State, or other
disqualification of any director, or of the President
of said bank, the vacancy therein occasioned may be
filled by the directors for the time being, electing a
Director or appointing a President, as the case may
1) be, for the balance of the time.
SEC. 10. And be it enacted, That the following rules,
regulations, restrictions, limitations and provisions
shall form and be part of this charter:
A. Every stockholder shall be entitled to one vote
for every share which lie, she, it or they may hold,
to the number of not exceeding fifty shares, and to
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