| CHARLES RIDGELY, OF HAMPTON, ESQ. GOVERNOR.
who after having given at least ten days notice in one or more
of the public papers in Baltimore, and first being duly sworn,
proceed to assess and value what damages will be sustained by any
person or persons whomsoever, by reason of opening and extending
the aforesaid street, agreeably to the several provisions contained
in the first section of the law to which this is a supplement. |
1817.
CHAP. 37. |
3. AND BE IT ENACTED, That all such parts
of the original law
that are inconsistent with the provisions of this supplement, be and
the same are hereby repealed. |
Repeal. |
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CHAP. XXXVIII.
An Act to establish a Bank, and Incorporate a Company, under the
title of The Farmers Bank of Leonard-Town. Lib.
TH. No. 5,
fol. 519. |
Passed Jan. 6, 1818. |
1. BE IT ENACTED, by the General Assembly
of Maryland, That
a bank to be called and known by the name of The Farmers Bank
of Leonard-Town, shall be established at Leonard-Town, in Saint-Mary's
county. |
Books to be established. |
2. AND BE IT ENACTED, That the capital of
the bank shall be
limited to one hundred thousand dollars, lawful money of the United
States, to consist of five thousand shares of twenty dollars each. |
Capital. |
3. AND BE IT ENACTED, That a book of subscription
for the said
capital shall be opened at Leonard-Town under the direction of
Enoch J. Millard, Joseph Harris and James Forrest, or any two
of them, on a day by them appointed 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
week previous thereto, who shall meet on the day so appointed for
receiving subscriptions, at ten 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
proportional deductions, so the whole be reduced to the proper
limit; but if the said subscriptions shall not be filled on the first
day, 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 two dollars in specie on each share. |
Subscription
books to be opened. |
4. AND BE IT ENACTED, That so soon as twenty-four
thousand
dollars shall be actually paid to the commissioners aforesaid, and
at least four thousand shares being subscribed for, it shall be the
duty of the said commissioners, or any two or more of them, to
appoint a day and place at Leonard town, for the election of nine
directors, which day shall be thirty days thereafter, and public
notice shall be given at least ten days before such election. |
Directors, when to
be elected. |
5. AND BE IT ENACTED, That the concerns of
said bank shall be
managed by eight directors and a president, the directors to be
chosen annually by the stockholders, and the president chosen by
the directors, at their first meeting after their annual election, two
of which said directors shall go out annually, and two more be
chosen to supply their places. |
Concerns of bank,
how to be managed. |
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