912

LAWS OF MARYLAND.

3. That the affairs of the said corporation shall be managed

Amending

by a board of twenty-four directors, who are to be elected

bank charter.

annually in the month of January by the stockholders, and

that the first board of directors of the said corporation shall be

the eight persons named in the first section of this Act, and who

shall, within thirty days from the date of this Act and annually

thereafter, elect from their number a president, vice-president,

secretary and treasurer, and such other officers as they may see

fit; a majority of said directors shall form a quorum and be

fully authorized for the transaction of any business ; and said

board of directors shall have full power, from time to time, to

make such by-laws, rules and regulations as in their judgment

they may deem necessary for the welfare of said corporation ;

Fixing amnunt

they shall also fix the amount of bond to be given by the officers

of bond.

for the faithful discharge of their respective duties, and to

regulate the salaries to be paid them.

SEC. 2. And be it enacted, That this Act shall take effect

from the date of its passage.

Approved April 8, 1904.

CHAPTER 526.

AN ACT to require all persons owning or operating, or who

shall hereafter own and operate, any sawmill in Talbot

County and not paying taxes thereon to its full assessable

value, to procure a license for the operation of the same

from the County Commissioners of Talbot County.

SECTION I. Be it enacted by the General Assembly of Mary-

land, That every person or persons or body corporate now

Must obtain

owning or operating any sawmill or sawmills in Talbot County

license to op-
erate saw mill.

and not paying taxes thereon to full assessable value thereof,

and on all horses, mules, oxen, wagons, carts, timber wheels

and other property used in connection therewith into the

Treasury of Talbot County, shall on or before the first day

of May, 1904, and on the first day of May in eac'h and every

year thereafter, take out a license from the County Com-

missioners of Talbot County for the use of said sawmill

or sawmills, for which said owner or operator shall pay

unto the Treasurer of said county a license fee of fifty

dollars for each and every sawmill owned or operated in said

county, and the said Commissioners of Talbot County are

hereby authorized and empowered to issue said license upon the

payment of said license fee.