| 1804.
CHAP. 60. |
LAWS OF MARYLAND.
wherein they shall be severally compelled to discover the interest
or shares which each and every member of the corporation
may have therein, and upon such discovery being had, the chancellor
shall ascertain the proportionate parts of the said judgment
which the said members severally ought to pay, and he is hereby
authorised to decree accordingly the sum of money which each and
every member of the said corporation shall pay to the said plaintiff
or plaintiffs. |
No transfer to be
made unless approved
of by the
board. |
10. AND, whereas the security of the assured,
and the stability
of this institution, will in some measure depend upon the stockholders
being persons of property, credit and responsibility, BE
IT ENACTED, That no transfer shall be made of stock or shares
of any member of this corporation, but as shall be approved
of by a board of the directors for the time being. |
| Duration. |
11. AND BE IT ENACTED, That this act shall
continue and be in
force until the first day of February eighteen hundred and twenty,
and until the end of the next session of assembly which shall happen
thereafter. |
|
_____
|
Passed Jan. 12, 1805. |
CHAP. LXI.
An Act to establish a Bank and Incorporate a Company, under the
name of The Farmers Bank of Maryland, and for other
purposes.
Lib. JG. No. 4, fol. 622.
A Supplement, 1807, ch. 38. See Dec. 1813, ch. 109. |
| Preamble. |
WHEREAS the agricultural and commercial interest
of this state
may be promoted by the establishment of a bank at the city of
Annapolis, and a branch thereof at Easton; therefore, |
| Bank established. |
2. 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 Maryland, shall be established at the city of Annapolis, and a
branch thereof shall be established at Easton, for the eastern
shore, and the proportion to be allotted to the branch bank shall
not exceed two fifth parts of the capital stock.
By 1807, ch. 38, another Branch established
in Frederick Town, in Frederick
County. |
Capital—Subscription
for stock. |
3. AND BE IT ENACTED, That the capital stock
of this bank
shall be limited to one million two hundred thousand dollars, to
consist of twenty-four thousand shares of fifty dollars each, one
third part thereof, or eight thousand shares, shall be reserved for
the use and benefit of the state, to be subscribed for in such manner
as the legislature may direct, but no engagement shall be understood
to be laid upon the state to subscribe or vest money therein
by the admission of a right to do so, or by a retention of any
unfilled shares, and the remaining sixteen thousand shares shall be
allotted to the different counties, and subscribed for, in manner following,
viz. At Annapolis, for the city of Annapolis and county of
Anne-Arundel, for two thousand shares, under the direction of
John Gibson, James Williams, John Muir, Robert Denny, Lewis
Duvall and William Alexander, or any two of them; at Baltimore,
for the city and county of Baltimore, for two thousand shares,
under the direction of Thomas Dickson, Cumberland Dugan, John
Stephen and George F. Warfield, or any two of them; at Belle-Air,
for the county of Harford, for six hundred and forty shares,
under the direction of John Stump, William Wilson, John C. Bond |
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