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LAWS OF MARYLAND.
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deposit, and pay interest thereon, and to loan money
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at any rate of interest allowed by law, to discount
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in accordance with bank usage, taking such security
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therefore, either real or personal, as the Board of
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Directors of said bank may deem sufficient ; may
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buy and sell exchange, bills, notes, bonds or other
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securities; may except and hold all such trusts as
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shall or may be committed to it by any person, or by
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the order and direction of any judge or any court;
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may make such special regulations in reference to
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trust funds, deposits or savings left for safe keeping,
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as shall best aid the parties interested, allowing and
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receiving such interest therefor as may be agreed on,
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not exceeding however, the lawful rate of interest ;
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provided, said bank shall have no authority to make
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and issue bank notes.
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Management
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SEC. 4. And be it enacted, That the affairs of the
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bank shall be managed by a Board of Directors, of
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not less than seven persons, who shall be elected
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annually from among the stockholders, after not less
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than ten days' notice to the stockholders, of said
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election; the election shall be by ballot, a plurality
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of votes shall elect, every stockholder shall be enti-
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tled to one vote for every share of the capital stock
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standing in his or her name on the books of the
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bank, and may vote in person or by written proxy,
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the Directors to hold over until their successors are
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elected ; the first election of Directors shall take
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First election.
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place when twenty-five thousand dollars of capital
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stock has been subscribed for; any three of the
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corporators herein named may open books for sub-
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scription to capital stock at any time; the Directors
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shall elect a President annually from their own num-
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ber, and elect such other officers and make such
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by-laws, rules and regulations as may be necessary
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for the prosecution of the business of the bank ; they
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shall call for the capital stock to be paid in as they
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shall think proper, on due notice to the stockholders,
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by instalments at uniform intervals of time, in sums
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not greater than five dollars per month ; and on
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Call for pay-
ments
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failure to make such payments, they may impose
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uniform fines upon the delinquent stockholders of
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not more than tive per cent, per month upon the
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amounts in default, and collect said payments and
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fines by suit or sale of stock, at public auction, after
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