GEORGE HOWARD, ESQ. GOVERNOR.

1831.

directly, be concerned in trade, or the importation or ex-
portation, purchase or sale of any goods, wares or mer-
chandise, lands, tenements or hereditaments whatsoever, ex-
cept goods, wares or merchandise, lands, tenements or here-
ditament, as shall be pledged to them by way of security,
or for debts due, owing or growing due to the said corpo-
ration, or purchased by them, to secure such debts due to
the said corporation: neither shall the said company take
more than at the rate of six per centum per annum, for or
upon their loans or discounts.

CHAP. 133.

8lh. The president and directors may discount notes or
bills, at any length of time not exceeding six months.

Discounts— time.

9th. No loan shall be made by the said corporation for
the use or on account of this state, or the United States, or
any particular state, to an amount exceeding the sum of
fifty thousand dollars, or to any foreign prince or state
whatever, without the previous consent of the legislature
of this state.

Restricted from
loaning to States

&c.

10th. The president and five directors shall constitute a
board for the transaction of business; but ordinary dis-
counts may be done by the president and three directors.

Quorum for busi-
ness.

11th. In case of sickness or necessary absence of the
president, his place may be supplied by a director, to be
appointed president pro tempore by the president, or in
case of his inability or omission to make the appointment,
by the directors for the time being.

President pro tem.

12th, In case of the death, disqualification, resignation
or removal out of Washington county, of the president, the
directors shall meet, as soon as can be thereafter, and elect
another person for president, for the residue of the year.

Vacancy of presi-
dency.

13th. No director shall be entitled to receive any emolu-
ment for his services as director, unless the same shall have
been allowed at a general meeting of the stockholders.

No emolument to
directors.

14th. The president and directors may call a general
meeting of the stockholders, for any purpose relative to
the institution, giving at least six weeks notice in the news-
papers published in Hagerstown and Williamsport, and one
newspaper published in the city of Baltimore, specifying in
such notice, the object or objects of such meeting; and
any number of stockholders, not less than thirty, who, to-
gether, shall be proprietors of not less than five hundred
shares, may, at any time, apply to the president and direc-
tors, to call a general meeting of the stockholders, for any
purpose relative to the institution, and if the president and
directors shall refuse to call such meeting, the said number
of stockholder, proprietors of not less than the aforesaid
number of shares, shall have power to call a general meet-

General meetings: