EDWIN WARFIELD, ESQ., GOVERNOR.

355

savings, to loan money or to discount in accordance with bank

usage, taking such security therefor, either real or personal,

Corporation to
transact a

as the board of directors of said bank may deem sufficient ; may

general

purchase and hold such real estate and personal property as

banking busi-
ness.

may be necessary for the accommodation and transaction of

its business; may issue letters of credit and other commercial

obligations, and generally may do and transact a general bank-

ing business.

SEC. 8. And be it enacted, That whenever any deposits shall

be made by a minor or married woman, such deposits shall be

Cashier to act

received or held and paid on precisely the same conditions as

at his discre-
tion.

those of adult male or adult f em me sole depositors; and the

cashier of said bank may at his discretion pay to such minor

or female covert depositor such sum or sums of money as may

be due to him or her, and the check, receipt, acquittance of

such minor or female covert shall be valid, any law of this

State to the contrary notwithstanding.

SEC. 9. And be it enacted, That it shall be the duty of the

directors to lay before the stockholders of said corporation

Yearly state-
ment to be

once in each year at a general meeting, for their information.

made.

an exact statement of the financial condition and affairs of

the bank.

SEC. 10. And be it enacted, That the board of directors

Board of di-

shall make to the Treasurer of the State of Maryland, re-

rectors to

ports of the condition of the bank whenever he may require

make report
to State

the same, in manner and form prescribed by him, which reports

Treasurer.

shall be verified by the oath or affirmation of the president or

cashier of the bank, such oath or affirmation to be made before

any officer of this State authorized to take acknowledgments

of deeds, and a summary of such report shall be published in

some newspaper having a large circulation among the de-

positors of said bank, and such proof of publication shall be

furnished as may be required by the Treasurer.

SEC. 11. And be it enacted, That annual dividends shall be

Annual divi-

declared to the stockholders of as much of the net profits of the

dends.

said corporation as shall appear advisable to the directors;

said dividends shall be declared in December, and shall be pay-

able the following January and if the directors shall at any

time wilfully or knowingly make or declare any dividends

which shall impair the capital stock, all the directors present

at the making or declaring such dividend and consenting there-

to shall be liable in their individual capacity for the amount

or proportion of the capital stock so divided bv the directors,