JAMES THOMAS, ESQUIRE, GOVERNOR.

1833.

and furnishing proof of such admission, to provide for pay-
ing all necessary expences, conducting the aS'airs of the
corporation, and generally to pass all by-laws as shall be
necessary to the esercisp of the saidsjppwers, and of the
other powers vested in said corporation by this charter, and
the same by-laws from time to time, to alter and repeal;

CHAP. 25.

Provided, that all such by-laws as shall be made by the
Directors, may be altered or repealed by a majority of the
members assembled at any annual meeting or at any gene-
ral meeting called in pursuance of any by-Iaur made for that
purpose, and a majority of the members may at any annual
or general meeting pass by-laws which shall be binding
upon the Directors; Provided, that such by-laws shall not
be contrary to the laws of this state or of the United
States.

By law

Sec. 4. And be it enacted, That said corporation shall be
capable of receiving from any free person amy deposites of
money not exceeding five hundred dollars in any one week,
and that all monies so received shall be invested in public
stocks or other securities, at the discretion of the Directors
in the manner deemed most safe and beneficial; provided
always, that such investment of the funds of the corpora-
tion shall be in manner provided for in the by-laws, and
that no director or member shall be liable in his person or
property, for any debts, contracts of engagements of the
said corporation, but that the, money, property, rights and
credits of said corporation and nothing more, shall be lia-
ble for the game; provided also, that no part of the funds of
said corporation shall be loaned to any officer or director
of said corporation.

May receive and
invest

Sec. 5. And be it enacted, That it shall be the duty of
the Directors at least once in every year to appoint three
competent members of said corporation as a committee of
examination, whose duty it shall be to investigate the affairs
of said corporation, and to make and publish a report there-
of in some new-spapers, printed in Frederick city, and it
shall be the duty of the Directors on the first Monday of

Committee of exa-
mination

January and first Monday of July, in each and every year,
to make and declare a dividend of the interest and profits
of the said corporation after paying its expenses, and the
same to pay over unto the depositors, or their legal repre-
sentatives within ten days thereafter, if called on to do so;
provided, that, nothing herein shall be construed to author-
ise the corporation to issue any bill, note or other device in
the nature of a bank note.
33

Dividends