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Proceedings and Acts of the General Assembly, 1874
Volume 211, Page 3010   View pdf image (33K)
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JAS. BLACK GROOME, ESQUIRE, GOVERNOR. 151

may be agreed upon ; may purchase annuities and

 

real estates as may be requisite for the immediate

 

accommodation of its business; may issue letters of

 

credit and other commercial obligations, and gen-

 

erally to do and transact a general banking business.

 

SEC. 6. And be it enacted, That the Board of Di-

 

rectors shall have power to regulate all matters

Regulate mat-
ters.

pertaining to special or trust deposits, the amount to

 

be received, at any time, and in the manner in which

 

the same shall be received or paid, as the case may

 

be, and to make all needful regulations in that be-

 

half; provided, that the aggregate amount of said

 

special or trust deposits does not at any one time

 

exceed the entire capital stock of the banking com-

 

pany.

 

SEC. 7. And be it enacted. That whenever any de-

Deposits of

posit shall be made by a minor, the Directors of the

minors

Banking Company may, at their discretion, pay to

 

such depositor such sum or sums of money as may

 

be due him or her, and the check, receipt or acquit-

 

tance of such minor shall be valid, and that the

 

deposits of married women shall be received or held

 

and paid out on precisely the same terms and con-

 

ditions as those of adult persons or corporations, any

 

law or statute of the State to the contrary thereof in

 

any wise notwithstanding.

 

SEC. 8. And be it enacted, That the affairs of this

 

corporation herein proyided for, shall be managed

Management

by a president and directors, and the number of di-

 

rectors in this corporation shall not be greater than

 

fifteen, nor less than tive, and the number of direct-

 

ors in said corporation may be changed by the
directory from time to time within the limits as to

 

the number aforesaid, and no person shall be eligi-

 

ble as a director who is not the bona fide owner of at

 

least two hundred and fifty shares of the capital

 

atock of the banking company.

 

SEC. 9. And be it enacted, That the election of "di-

 

rectors of said banking company, shall be held an-
nualy at the hank, on the second Wednesday in Jan-

Election for
Directors.

uary, and the Board of Directors shall give at least

 

ten days notice, in two or more daily newspapers,
published in Baltimore city; and the stockholders in

 


 

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Proceedings and Acts of the General Assembly, 1874
Volume 211, Page 3010   View pdf image (33K)
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