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Session Laws, 1833
Volume 210, Page 32   View pdf image (33K)
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1833.

LAWS OF MARYLAND.

CHAP. 27

deposit or become members of said corporation; provided,
the amount made by each depositor be not less than the,
minimum sum of one dollar per week, one that they in all
things comply with the provisions of this act, and the rules
and by-laws which may from time to time be adopted.

Privilege of Depos-
itors

Sec, 4 And be it enacted, That every person who shall
be a Regular weekly depositor of said corporation, and who
shall have deposited not less than one dollar in each week
for the period of twelve successive months, shall have life
privilege of becoming a member of said corporation, and
shall have the right to require and receive from the proper
officer thereof, under its laws, a certificate of membership;
and that when such depositor shall have received such cer-
tificate of membership, he shall thereby become entitled to
all the rights and privileges of a member of said corpora-
tion, under its by-laws, or under the provisions of this act;

Power to create
stock

and the Directors shall have power to create shares of
stock of twenty six dollars each, and issue certificates for
the same, which shall entitle the members holding said
stock, to a vote lor each and every share held by them,

Right of voters re-
stricted

either in person or by proxy; Provided, that no member
shall vote at any election for Directors on any stock which
he has not held three months previous to such election.

Limit of deposits

Sec. 5. And be it enacted, That the regular weekly de-
posits of any member of said corporation shall in no case
exceed the sum of five dollars in any one week, and the
whole amount of said deposites, and stock accrued by
any member or stockholder, shall in no instance exceed the
sum of two thousand dollars.

May receive depo-
sits

Sec. 6. And be it enacted, That said corporation shall
be capable of receiving from any free person or persons,
any deposit or deposits of money, and that alt monies so

And invest

received shall be invested in public stocks or other securi-
ties, at the discretion of the directors, and in the manner
deemed most safe and beneficial; Provided, that no part of
the funds of said corporation shall be loaned to any officer
or director of said corporation.

Committee of exa-
mination.

Sec. 1. And be it enacted, That it shall be the duty of the
Directors, at least once in every six months, to appoint
from the members of said corporation five competent per-
sons, as a committee of examination whose duty it shall be
to investigate the affairs of said corporation, and to make
and publish a report thereof, in one or more newspapers,
printed in the city of Baltimore; and it shall also be the du-
ty of the Directors on the first day of January, and on the



 
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Session Laws, 1833
Volume 210, Page 32   View pdf image (33K)
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