| CHARLES RIDGELY, OF HAMPTON, ESQ. GOVERNOR.
it shall be entitled to appoint two of the directors, one to be
chosen by the senate, and the other by the house of delegates; and
at all subsequent elections the residue only shall be elected by the
stockholders as is herein before provided. |
1817.
CHAP. 16. |
28. AND BE IT ENACTED, That the president
and directors shall
have power to make and alter at pleasure all rules and by-laws
deemed necessary for conducting the affairs of the bank. |
Rules and by-laws. |
29. AND BE IT ENACTED, That upon the payment
of the second
instalment the president and directors may commence the operations
of the bank. |
Operations, when
to commence. |
30. AND BE IT ENACTED, That the Planters Bank
of Prince-George's
county shall be at no time indebted by bond, bill, or
note, or other contract, for an amount exceeding double the capital
actually paid in; and in case of excess, all directors under whose
administration it shall happen, consenting thereto, shall be liable
in their individual capacities, it being understood that property
deposited for safe keeping in the said bank shall not be considered
as debts within the meaning of this clause.
31. This section repealed by
1818, ch. 171. |
Debts not to exceed
double the
amount of capital
paid in. |
32. AND BE IT ENACTED, That the books, papers,
correspondence,
funds, and every transaction of the company, shall at all times
be freely open to the inspection of the directors, a majority of whom,
or any number of stockholders not less than thirty, and holding
not less than one thousand shares, may at any time call a general
meeting of the stockholders for objects relative to the interest of
the company, giving not less than three months notice thereof
in some one of the public prints in the cities of Baltimore and Annapolis. |
General meeting
of stockholders. |
33. AND BE IT ENACTED, That the bank shall
pay to the treasurer
of the western shore the sum of twenty cents upon the
amount of every hundred dollars subscribed and actually paid in,
for each and every year during the continuance of its charter,
which sum shall be, and the same is hereby pledged by the state as
a fund for the purpose of supporting county schools, to be equally
divided among the several counties of this state, and paid over in
equal portions to such persons in each county as the legislature
may hereafter appoint. |
Bank to pay 20 cts
for every 100 dolls.
subscribed. |
34. AND BE IT ENACTED, That if the president
and directors
of said bank shall at any time refuse to pay specie for their notes
when called on, the charter shall be, and is hereby declared, null
and void; provided in case of such forfeiture the said bank shall be
authorised to recover all debts actually due at the time of said forfeiture,
as if no forfeiture had happened. |
Refusing to pay
specie or their
notes, charter declared
void. |
35. AND BE IT ENACTED, That this act shall
continue in force
until the expiration of the year eighteen hundred and thirty five,
and until the end of the next session of the general assembly which
shall happen thereafter. |
Continuance |
_____
|
|
CHAP. XVII.
An Act for the benefit of Thomas Rowe of Cecil County. Lib.
TH.
No. 5, fol. 490. A Private Act.
Confirming his title to land lying in
Cecil county, notwithstanding John
Culbertson, to and from whom conveyances for the same
had been made had not
been naturalized. |
Passed Jan. 3, 1818. |
|
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