1831.

LAWS OF MARYLAND.

CHAP. 307.

to revise, alter, and annul; and may use, employ, and dis-

pose of the fnnds, money and credit of the said bank, as

they, or a majority of them, may deem expedient; subject,

however, to the restrictions and limitations hereinafter men-

tioned; and the books, papers, correspondence, and funds of

the corporation, shall, at all times, be subject to the inspec-

tion of the boaid of directors.

Rules and regula-

Sec. 12. And be it enacted, That the following rules, re-

tions

strictions, limitations, and provisions, shall form, and be the

fundamental articles of the constitution of the said corpo-

ration to wit.

Votes regulated

1st. The number of votes to which each stockholder

shall be entitled, shall be according to the number of shares,

he or she, shall hold in the proportion, following to wit. for

one share, and not more than two shares, one vote each, fot

every two shares above two, and not exceeding ten, one

vote, for every four shares above ten, and not exceeding

thirty, one vote; for every six shares above thirty, and not

exceeding sixty, one vote, for eveiy eight shares above

sixty, and not exceeding one hundred, one vote, and for

every ten shares above one hundred, one vote; but no per-

son or body politic, shall be entitled to a greater number

than thirty votes, and no share or shares, shall confer a right

of suffrage, which shall not have been holden two calendar

months previous to the clay of election, stockholders actu-

ally resident within the United States, and none other may

vote at elections by proxy

Qualification for

2d None but a stockholder, being a citizen of the Unit-

directors, &c.

ed States, and residing within the State of Maryland, shall

be eligible as a director, and every director shall cease to

be such upon his ceasing to be a stockholder, or to reside

in Kent or Queen Anne's countiess

Directors of ano-
ther bank ineligi

3d No director of any other bank shall be a director of

ble.

this bank, nor shall any person be a director in this bank

who is a partner in tinde, with a dnector of any other

bank, And provided always, That no rule or regulation,

shall entitle a director to obtain discounts on terms differ-

ent from those prescribed fol other persons, And provided

Limit to accommo-
dation

also, That no director shall be indulged with discounts be-

yond five hundred dollais per wee k

Notice of election

4th The president and directors for the time being, shall

give six weeks notice in the several newspapers, printed on

the Eastern Shoie of this state, of the time and place of

holding the election of directors annually.

Oath of office.

5th The president and each director before he enters

upon the duties of his office, shall take the following oath

or affirmation as the case maybe ' I A B do solemnly