1835.

LAWS OF MARYLAND.

CHAP 287.

dition to the sum of five dollars, payable as afore-

Additional pay

said at the time of subscription, at such times as it

may be required by the president and directors of said

Proviso

bank; Provided, that not more than one instalment bo

demanded in any one month, nor until ninety days

public notice be given of such demand by the presi-

dent and directors, through all the daily newspapers

published in the city of Baltimore.

President and Di-

SEC. 6. And be it enacted, That until an election

rectors

of directors, and appointment of a president shall be

made as is hereinafter provided, the business of the

said bank shall be conducted by the president and di-

rectors for the time being, of the society before mention-

ed, who shall be the president and directors of the said

bank, and who, as such, may exercise the powers con-

ferred, and shall perform the duties imposed by this

act on the president and directors of said bank, re-

spectively, until successors shall be duly chosen; and

the affairs of the said bank from and after the second

Tuesday of the month of February, in the year eigh-

teen hundred and thirty-seven, shall be conducted by

Pres and Directors

a president and eighteen directors, and the said direc-

to be elected

tors shall be elected on the day last mentioned, and on

the same day annually thereafter by the stockholders,

twenty days notice being previously given, in two or

more daily newspapers, printed in the city of Balti-

more, of the time and place within said city, for pro-

ceeding to such election, and the persons who shall

from time to time be so elected, shall convene without

delay, and at their first meeting after their election,

shall proceed to appoint a president, and the said direc-

tors and president shall be capable of serving in their re-

spective offices, until the expiration of the second Tues-

day in February, next ensuing their election and ap-

Failture to elect on

pointment, and until successors shall be chosen, and in

day

case it should at any time happen that an appointment

of president or election of directors of the said bank

should not be made so as to take effect on any day when

in pursuance of this act, the same should take effect, the

corporation shall not for that cause be deemed to be dis-

solved, but it shall be lawful at any other time within

thirty days thereafter to make such election and appoint-