1835.

LAWS OF MARYLAND.

CHAP. 314.

at the dame, at the time of election, and during the

whole time which they shall continue directors, and to

be accounted as and for some of the four hereby requi-

red to be mechanics or manufacturers; and the four

persons qualified as aforesaid, who shall receive the

greatest number of votes, at any election of any

persons so qualified, shall be deemed and declared duly

elected, although other persons not so qualified, may

have received a greater number of votes; and if any

mechanics or manufacturers shall cease to work or

carry on business in some mechanical or manufacturing

line, during the time of his being a director in the said

bank, his seat shall become vacant; but if there are

four other mechanics or manufacturers, qualified as

aforesaid, remaining at the board, he may be elected

to fill the vacancy occasioned by his seat being so va-

cated.

Mode of paying

SEC. 6. And be it enacted, That all subscriptions to

the said bank shall be paid in the following manner,

that is to say: a first instalment of one dollar per

share on each share, at the time of subscribing for the

same, as hereinbefore directed; a second instalment of

two dollars, at the time appointed by the above named

commissioners, if they shall call for the same in the

manner provided for in the fourth section of this act,

and the residue of every subscription, including the

said second subscription of two dollars, if not called

for by the commissioners, shall be paid in such instal-

ments and at such times, as may be required by the

president and directors of said bank; Provided, that

not more than one-fifth part of the subscription be de-

manded in any one month, nor any instalment until ten

On failure, to forfeit

days' public notice shall be given of such demand; and

if any subscriber shall fail or neglect to pay the second,

or any other instalment, or part of said subscription

demanded, for the space of sixty days next after the

time the same shall be due and payable, the stock on

which it is demanded shall be forfeited to the bank,

and may be sold by the president and directors for the

benefit of the said bank; but the president and direc-

tors may remit any such forfeiture on such terms as

they shall deem proper.