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EDWARD LLOYD, ESQUIRE, GOVERNOR.
19. The books, papers, correspondence and funds,
of the company,
shall at all times be subject to the inspection of the directors. |
1810.
CHAP. 66.
|
20. If the said directors shall at any time
wilfully and knowingly
make or declare any dividend which shall impair the said capital
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 company for the amount or proportion of the said
capital stock so divided by the said directors, and each director
who shall be present at the making or declaring of such dividend,
shall be deemed to have consented thereto, unless he shall immediately
enter, in writing, his dissent on the minutes of the proceedings
of the board, and give public notice to the stockholders that
such dividend has been declared. |
Books, &c. to be
subject to inspection
of directors.
Directors declaring
any dividend
which may impair
capital to be liable
in their individual
capacities. |
7. AND BE IT ENACTED, That those persons who
have heretofore
entered into articles of association as a banking company, and
now carry on the usual operations of banking at Fell's-Point, in
the city of Baltimore, under the name and title of The President,
Directors and Company, of the Marine Bank of Baltimore, shall
be and are hereby established as the bank or corporation before
mentioned, according to the provisions and limitations herein contained,
and the present president and directors of the said banking
association, to wit: Hezekiah Waters, Joseph Biays, Frederick
Shaffer, Job Smith, Archibald Kerr, John Lee, Patrick Bennett,
John Coulter, William Mondel, Luke Kierstad, Thorndick Chase,
Joel Vickers, Baptist Mezick and Nicholas Stansbury, shall continue
to act as such until the second Monday in April, eighteen
hundred and eleven, and until a new election of directors shall take
place. |
Persons carrying
on operations, &c.
established as the
bank, &c. |
8. AND BE IT ENACTED, That so much of the
several shares of
the capital stock in the said bank as remains due and unpaid at the
time of the passage of this act, may be called for in such proportions,
and at such times, as the directors thereof shall appoint, but
no further payment shall be required without first giving two months
notice at least in the news-papers printed in the city of Baltimore;
and if any stockholder shall fail to make regular payment of any
instalment so called for, such stockholder shall not be entitled to
any dividend until such instalment shall be fully paid, and the dividend
thereafter to be paid to such stockholder, as well upon the
money by him regularly paid, as upon money paid after default,
shall be calculated only from the time when said last instalment was
fully paid. |
So much of shares
unpaid may be
called for as directors
shall appoint. |
9. AND BE IT ENACTED, That this act shall
continue in force
until the expiration of the year eighteen hundred and fifteen, and
until the end of the next session of the general assembly thereafter.
Further continued and extended by 1815,
ch. 167, to 1st January 1835, &c. |
Duration. |
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CHAP. LXVII.
An Act to incorporate the Stockholders of the Franklin Bank of Baltimore.
Lib. TH. no. 2, fol. 516. |
Passed Dec. 23. |
WHEREAS the president and directors of the Franklin
Bank of
Baltimore, in behalf of themselves and other proprietors of stock
in the said bank, have petitioned this general assembly, setting
forth, that sundry persons, by articles of voluntary association,
have contracted and agreed, each with the other, to conduct and |
Preamble. |
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