| 1804.
CHAP. 61.
Books, &c. to be
open to inspection
of directors. |
LAWS OF MARYLAND.
22. 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 the bank and branch bank, or any number of stockholders
not less than thirty, and holding not less than three hundred
shares, may, at any time, call a general meeting of the stockholders,
for objects relative to the interests of the company, they giving six
weeks notice in the public prints, and expressing in said notice the
points or objects to be deliberated upon at such meeting. |
Books may be
opened for shares
unsubscribed for. |
23. AND BE IT ENACTED, That should it happen
that a part of
the shares in this bank allotted to any county shall not be subscribed
for, and shall be returned to the commissioners at Annapolis or
Easton, the directors of each bank shall give at least six weeks
public notice of the number of shares on each shore which shall not
be subscribed, and shall notify the time when they will open books
at Annapolis and Easton for the disposal of such shares. |
State, when entitled
to appoint
directors. |
24. AND BE IT ENACTED, That whenever the state
shall become
a stockholder to an amount not less than forty thousand dollars, she
shall be entitled to appoint two directors, one for each shore, and
for every additional eighty thousand dollars paid by the state, to
the amount of three hundred and sixty thousand dollars, she shall be
entitled to appoint two additional directors in manner as aforesaid;
and when the whole amount allotted to the state shall be paid up,
then the state shall be entitled to elect eleven directors, to wit:
Six
for the western and five for the eastern shore. |
Oath of president,
directors and officers. |
25. AND BE IT ENACTED, That before the president
and directors
shall act as such, they shall take an oath, or affirmation, that
they will faithfully, diligently and honestly, perform the duties of
their station; and the cashier, the book keeper and clerks, shall
also take a similar oath, or affirmation, and shall besides give bonds,
with security, to the satisfaction of the board of directors, for the
faithful discharge of their duties in their several stations. |
Notes, where to
be made negotiable. |
26. AND BE IT ENACTED, That all notes offered
for discount by
any person or persons, shall, on the face thereof, be made negotiable
at the Farmers Bank of Maryland, and when the drawer shall
not reside in Annapolis or Easton, such note shall be made payable
at the house of some person at Annapolis or Easton, and notice
given by the proper servant of the bank at said house, that such
note hath become due, shall be to all intents and purposes held and
considered to be as completely binding on the drawer and endorsers
as if notice had been personally served on each of them. |
Penalty on persons
committing
fraud or embezzlement. |
27. AND BE IT ENACTED, That any director,
officer, or other
person holding any share or capital of the said bank stock, who shall
commit any fraud or embezzlement, touching the money or property
of the bank, shall be liable to be prosecuted, in the name of the
state, by indictment, for the same, in any court of law in this state,
and upon conviction thereof, shall, besides the remedy that may be
had by action in the name of the President and Directors of the
Farmers Bank of Maryland, for the fraud aforesaid, forfeit all his
share or stock in the said bank to the company. |
| Subscribers incorporated. |
28. AND BE IT ENACTED, That all persons who
shall become
subscribers to the said bank, their successors and assigns, shall be
and are hereby made a corporation and body politic, by the name
and style of The President, Directors and Company, of the Farmers |
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