| 1817.
CHAP. 15. |
LAWS OF MARYLAND.
one copy of the same to be set up at the court-house door of said
county at least three weeks before the next election. |
Commissioners
compensation. |
4. AND BE IT ENACTED, For all services performed
by the commissioners
aforesaid by virtue of this act, the levy court of Allegany
county shall make reasonable compensation, and shall levy the
same upon the said county, and the same shall be collected and
paid as other county charges. |
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Passed Jan. 5, 1818. |
CHAP. XVI.
An Act to establish a Bank and Incorporate a Company under the title
of The Planters Bank of Prince-George's County.
Lib. TH.
No. 5, fol. 434.
Supplements, ch. 169, and 1818, ch. 171. |
Bank to be
established. |
1. BE IT ENACTED, by the General Assembly
of Maryland, That
a bank to be called and known by the name of The Planters Bank
of Prince-George's County, shall be established at the town of Upper
Marlborough in said county. |
| Capital. |
2. AND BE IT ENACTED, That the capital stock
of the bank shall
be limited to two hundred thousand dollars, money of the United
States, to consist of eight thousand shares of twenty-five dollars
each. |
Books to be opened
for subscriptions. |
3. AND BE IT ENACTED, That a book of subscription
for the said
capital shall be opened at Upper Marlborough, under the direction
of John R. Magruder, John Hodges, of Thomas, and William
Hill (a), or a majority of them, on a day appointed by them for that
purpose, and notified in the most public places of the county, and
elsewhere, as shall seem most expedient to the commissioners aforesaid,
at least three weeks previous thereto; who shall meet on the
day so appointed for receiving subscriptions, at ten o'clock A. M.
and continue the same open till five P. M. and if the subscriptions
shall exceed the capital, the commissioners shall apportion the same
among the subscribers by proportionate deductions, so the whole
be reduced to the proper limits; but if the said subscriptions shall
not be filled on the first day (a), the commissioners aforesaid may
adjourn, from day to day, during five days, exclusive of the first,
and at any time after the first day, if the subscription shall be completed,
the commissioners shall close the book, and those who have
previously subscribed shall be entitled to stock in the said bank,
from each of whom the said commissioners, at the time of subscribing,
shall exact the first instalment of five dollars on each
share.
(a) By the supplement, ch. 169,
additional commissioners are appointed and
the subscription on the first day restricted to residents of Prince-George's
county. |
Election of president
and directors. |
4. AND BE IT ENACTED, That within ten days
after closing the
subscriptions, a majority of the commissioners shall meet at Upper
Marlborough for the purpose of holding an election for the president
and directors of said bank.
5. This section repealed by 1818,
ch. 171. |
| Votes allowed. |
6. AND BE IT ENACTED, That in choosing the
president and directors
of the said bank, the stockholders shall be entitled to vote,
either in person or by proxy, each stockholder entitled to one vote
for every share he may hold; stockholders actually resident in the
United States, and none other, may vote at elections by proxy. |
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