1835.

LAWS OF MARYLAND.

CHAP. 320.

thereafter, to hold and make an election in such manner as shall have been regulated and provided for by

the by-laws and ordinances of the, said corporation;

Vacancy

and in case of the death, resignation, disqualification

or removal out of the State, of a director, or his be-

ing appointed president of the bank, bis place for the

residue, of his term of service, may be filled by the

remaining directors, or a board thereof competent to

the transaction of business: and in case the vacancy oc-

curring, as aforesaid, shall leave in the said board of

directors, less than five members thereof residing

without the limits of the city of Baltimore, the said

vacancy shall be filled by the selection of a stockholder

having such limited residence; and in case any director,

residing without the; limits of the city of Baltimore,

shall remove within said limits, not leaving in said

hoard of directors four members thereof, residing

without the the limits of the said city, his removal, as

aforesaid, shall per se vacate his seat at said board,

and a new director, for the residue of his term, shall

be appointed, as aforesaid, in his stead, who shall

possess the requisite residence.

President to reside out of Baltimore

SEC. 8. And be it enacted, That the president of

the hank shall reside without the limits of the city of

'Baltimore, and may be elected from year to year with-

out limitation, but one director at least shall go out an-

nually.

Power to appoint cashier &c.

SEC. 9. And be it enacted. That the president and

directors for the time being, shall have power to ap-

point a cashier and such other officers and servants, as

may be necessary for conducting the business of the

corporation, and to allow the said president, casliier,

officers and servants, such compensation for their ser-

vices as they may deem reasonable.

Notes payable at bank

SEC. 10. And, be it enacted, That all notes discoun-

ted at said bank, which shall on the face thereof be

made negotiable or payable at or to the Hamilton

Bank, shall be payable at said bank.

Power to make by laws, &c.

SEC. 11. And be it enacted. That the president and

directors for the time being, may make all rules, or-

ders, by-laws and regulations, for the government of

the said corporation, its officers and servants, as they