THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1839.

Or a majority of them from time to time shall think

CHAP. 320.

At, not inconsistent with law or the provisions of this

act, and the same at pleasure, to revise, alter and

amend, and may use, employ and dispose of the prop-

erty, funds, money and credits of the said hank, as

they or a majority of them may deem expedient, sub-

ject however, to the restrictions and limitations here-

inafter mentioned, and the hooks, papers, correspon-

Books, &c, subject to inspection of

dence and funds of the corporation, shall at all times

directors

he subject to the inspection of the board of directors.

to the Treasurer of the Western Shore, or to a com-

mittee appointed by either branch of the Legislature

of this State.

SEC. 12. And be it enacted, That the following rules,

Rules

restrictions, limitations and provisions shall form and

be fundamental articles of the constitution of the said

corporation, to wit: —

ARTICLE 1. The number of votes to which each

Votes

stockholder shall he entitled, shall be according to the

number of shares he or she may hold, in the proportion

following, to wit: — for one share, and not more

than two shares, one vote each; for every two shares,

abore 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 ex-

ceeding sixty, on vote; for every eight shares above

sixty, and not exceeding one hundred, one vote; and

for every ten shares above one hundred, one vote; but

no person or body politic, shall be entitled to a great-

er number than thirty votes, and no share shall confer

a right of suffrage, which shall not have been holden

two calendar months previous to the day of election;

stockholders actually resident within the United States

and none other, may vote at elections by proxy

ART. 3. None but a stockholder, being a citizen of

Eligibility of dir-rectors

the United States, and residing within the State of

Maryland, shall be eligible as a director; and every

director shall cease to be such upon his ceasing to be

a stockholder.

ART. 3. No rule or regulation shall entitle a direc-

Privilege of direc-tor

tor to obtain discounts on terms different from, those

prescribed for other persons.