| NOV. 1812.
CHAP. 180.
In case election
should not be
made upon day
appointed, to be
made on any
other day, &c. |
LAWS OF MARYLAND.
11. AND BE IT ENACTED, That in case it should
so happen that
an election of directors should not be made upon any day when
pursuant to this act it ought to have been made, the said corporation
shall not for that cause be declared to be dissolved, but it shall
be lawful on any other day to hold and make an election of directors
in such manner as shall have been regulated by the laws and ordinances
of the said corporation; and in case of the death, resignation,
or absence from the state, or removal of a director by the
stockholders, his place shall be filled up by a new choice made by
the directors chosen as aforesaid, for the remainder of the year, or
until the next election by the stockholders. |
Oath of president,
directors, &c. |
12. AND BE IT ENACTED, That the president,
and each director,
before he enters upon the duties of his office, shall take the
following oath, or affirmation, (as the case may be:) " I, _____,
do
solemnly swear (or affirm,) that I will faithfully, diligently, impartially
and honestly, execute the duties of _____ _____, in the City
Bank of Baltimore, conformably to the constitution of the same,
and the trust reposed in me, to the best of my skill and judgment;"
and the cashier, teller, book-keepers and other officers and servants
of the said bank, shall take a similar oath or affirmation. |
Officers to give
bond. |
13. AND BE IT ENACTED, That the cashier, teller,
book-keepers
and other officers and servants of this bank, shall give bonds with
security, to the satisfaction of the president and directors of the
said bank, for the faithful discharge of their duties. |
Election of first
directors, when to
be made. |
14. AND BE IT ENACTED, That as soon as thirty
thousand shares
shall be subscribed, or two hundred thousand dollars shall have
been actually paid to the commissioners, on account of the subscriptions
to the said stock, notice thereof shall be given by the said
commissioners in at least two public gazettes printed in the city
of Baltimore, and one at Annapolis, George-town, Frederick-town,
Hager's-town and Easton respectively; and the said commissioners
shall at the same time, in like manner, notify a time and place
within the said city, at the distance of sixty days from the time of
such notification, for proceeding to the election of directors, and
it shall be lawful for such election to be then and there made, and
the persons who shall then and there by chosen shall be the first
directors, and shall be capable of serving by virtue of such choice
until their successors shall be duly elected in pursuance of this act,
and shall, as soon as two hundred thousand dollars are actually
paid, and not before, commence the operations of the said bank in
the city of Baltimore aforesaid. |
Banking-house &
utensils to be procured. |
15. AND BE IT ENACTED, That the commissioners
aforesaid
shall immediately provide, in the said city of Baltimore, a proper
house for carrying on the business of the bank, together with all
necessary paper, stationary, vaults and utensils, suitable to the
same, so that as soon as the directors are chosen the operations of
the bank may be immediately, and without loss of time, entered
upon and carried into effect. |
Defaulters in payment
for stock. |
16. AND BE IT ENACTED, That if any stockholder
shall fail to
pay on his or her stock such instalment or instalments as may be
demanded or required in manner aforesaid, the dividend or dividends
thereafter to be paid to such stockholder, (as well upon the
money by him or her regularly paid, as upon the money paid after |
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