1835.

LAWS OF MARYLAND,

CHAP. 315.

and servants under them, as may be necessary for ex-

Allow compensa-

ecuting the business of the said corporation, and to

tion

allow them such compensation for their services, re-

spectively, as shall be reasonable.

Rules and by-laws

SEC 6. And be it enacted, That the president and

directors for the time being, may make all such rules,

orders, by-laws and regulations for the government of

the said corporation, its officers and servants, as they,

or a majority of them, from time to time shall think

fit, not inconsistent with law, or the provisions of this

act; may at their pleasure, revise, alter and annul the

same, and they may use, employ and dispose of the funds,

money and credit of the said bank, as they or a ma-

jority of them may deem expedient, subject however to

the restrictions and limitations hereinafter mentioned.

Rules

SEC. 7. And be it enacted, That the following rules,

restrictions, limitations and provisions shall form and

be fundamental articles of the constitution of the said

corporation.

Votes

ARTICLE 1. The number of votes to which each

stockholder shall'be entitled, shall be according to the

number of shares he shall hold, in the proportion fol-

lowing, that is to say: For one share and not more than

two shares, one vote each; for 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; and for every ten shares above that number,

one vote; but no person or body politic shall be entitled

to a greater number than sixty votes, and that no share

or shares shall confer a right of suffrage which

shall not have been holden four calendar months pre-

vious to the day of election; and that stockholders ac-

tually resident within the United States, and none

other, may vote at elections or in general meeting by

proxy.

Eligibility

ART. 2. None but a stockholder, being a citizen of

this State, shall be eligible as a director or president,

and every president or director, as the case may be,

shall cease to be a director or president upon his ceas-

ing to be a citizen of this State or stockholder.