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LAWS OF MARYLAND.

Constitute
board

SEC. 17. And be it enacted, That the president and

majority of the directors shall constitute a board for

the transaction of the business of the corporation, but

the ordinary discounts may be made or granted by

the president and three directors; and in case of sick-

ness or necessary absence of the president of the bank,

his place may be supplied by a member of the board,

whom the president by writing shall select or appoint

as president pro tempore during such absence.

SEC. 18. And be it enacted, That no director shall

Compensation

be entitled to receive any pay or emolument for his

services, unless the same shall have been allowed at

a general meeting of the stockholders; and the direc-

tors shall make such compensation to the president

for his extraordinary attendance at the bank as shall

appear to them reasonable.

SEC. 19. And be it enacted, That the president and

directors of the corporation may at any time call a

Call a general
meeting.

general meeting of the stockholders for any purpose

relative to the institution, giving at least three weeks'

notice by advertisement in some newspaper published

in the town of Centreville, of the time and place of

such meeting ; and any number of the stockholders,

owning not less than one-fifth of the stock of the

corporation, may at any time apply to the said presi-

dent and directors to call a general meeting of the

Refuse to call.

stockholders for any purpose relative to the institu-

tion ; and if the president and directors shall refuse to

call such meeting, the stockholders owning not less

than the aforesaid amount of one-fifth of the stock of

the corporation, shall have power to call a general

meeting of the stockholders, giving notice as afore-

said, and specifying, in such notice, the object of such
meeting ; and it is hereby made the. duty of the pres-

sident and directors of the bank, upon the applica-

tion of stockholders, owners of not lees than one-

fifth of the capital stock, to furnish to such stock-

holders a full and correct list of the names of all

the stockholders of the bank.

SEC. 20. And be it enacted, That the lands, tene-

Lawful to bold.

ments and hereditaments which it shall be lawful for

the said corporation to hold, shall be only such as

shall be requisite for its immediate accommodation

in relation to the convenient transaction of its busi-