1831.

LAWS OF MARYLAND.

CHAP. 228.

to fill all vacancies that may occur in the directory or pre-

sidency; to appoint all such officers, agents and servants, as

they shall deem necessary to conduct or execute the busi-

ness of said corporation, to fix their compensation, and in

their discretion to dismiss them; to take bonds for the said

corporation, from all or any of the officers, agents or ser-

vants by them so appointed, with security, conditioned, in

such form as they shall approve, for the faithful execution

of the duties of such officers, agents or servants, and to se-

cure the said corporation from loss; to regulate the manner

of making and receiving deposits, the form of certificates

to be issued to depositors, and the mode of transferring the

same; to invest the funds of the said corporation; and gene-

rally, to do any such other acts touching the same as they

shall deem most safe and beneficial; to admit members and

furnish proof of such admission; to exclude members when

they have not any property in said corporation; to pay all

expenses necessary to conduct the affairs of said corpora-

tion; and generally to pass all such by-laws, as may be ne-

cessary for the exercise of the aforesaid powers, or the

Provisoes.

powers vested in the said corporation, and the same by-

laws, from time to time, to alter and repeal; Provided, that

all such by-laws, may be altered or repealed, by a majority

of the members assembled at any annual meeting, or at any

general meeting called in pursuance of any by-laws made

for that purpose, and a majority of the members present, at

any annual or general meeting, may pass by-laws which

shall be binding upon the directors; Provided, that such by

laws, shall not be contrary to any law of this state, or of

the United States.

Receive of depo-

Sec. 4. And be it enacted, That the said corporation shall

sits.

be capable to receive from any free person, or persons, any

deposit or deposits of money; and to invest all moneys so

Make investments.

received in publib stock, or other securities, at the discretion

of the directors, and in such manner as they shall deem

Proviso.

most safe and beneficial; And provided always, that such in

vestment of the laws of the corporation, shall be made in

the manner directed in the by-laws; and that no director or

member shall be liable in his person or property, for any

Liabilities

debts, contracts or engagements of the said corporation, but

that the money, property, rights and credits of the said cor-

poration, and nothing more, shall be liable for the same.

Committee of

Sec. 5. And be it enacted, That it shall be the duty of the

examinations

directors, at least once in every six months, to appoint from

the members of the corporation, five competent persons, to

investigate the affairs of said corporation, and to make a

report thereof, which report shall be recorded in a book