1835.

LAWS OF MARYLAND.

the direction of a majority of whom, subscriptions may

CHAJP. 318

be received to the capital stock of said Farmers'

and Millers' Bank of Hagerstown, and they or a ma-

Books to be open.

jority of them, may cause books to be opened, at such

ed

times and places, as they may direct, for the purpose

of receiving , subscriptions to the capital stork of said

Notice thereof

company, after having given such notice of the limes

and places of opening the same, as they may deem pro-

per, and that upon the first opening of the said books,

they shall be kept open for at least three successive

days, from ten o'clock, A. M., until two o'clock, P.

M.; and if at the expiration of that period, such a

subscription of the capital stock of said company as is

necessary to its incorporation, shall not have been ob-

Re-opened

tained, the said commissioners or a majority of them;

may cause the said books to be opened from time to

time, after the expiration of the said three, days, for

the space of twelve months thereafter, or until the sum

necessary to the incorporation of said company shall

Vacancy

have been subscribed; and if any of the said commis-

sioners shall die, resign, or refuse to act, during the

continuance of the duties devolved upon them by this

act, another may be appointed in his stead by the re-

maining commissioners or a majority of them.

President and di-

SEC. 4. And be it enacted, That the affairs of the

rectors

said bank shall be conducted by a president and eight

directors, and as soon as subscriptions shall have been

actually received for five thousand shares of the capital

stock of the said bank, the commissioners aforesaid or a

Notice of election

majority of them, shall give at least twenty days notice

of directors

in the several newspapers printed in Washington coun-

ty, and two daily newspapers printed in the city of

Baltimore, of the time and place for proceeding to

the election of directors, and such ejection may be then

and there made under the superintendance of said com-

missioners or a majority of them, who shall be judges

President

of the said election, and the persons who shall be then

elected directors shall proceed at their first meeting to

appoint a president, who shall be a stockholder in said

Duration of ser.

bank, and the said directors and president shall be ca-

service

pable of serving in their respective offices, until the

expiration of the first Monday of the month of May,