ART. 43. ] BANKS, NATIONAL AND STATE.

which are payable to bearer shall be negotiable or assignable by
delivery only.

379

ART. 16. — The shares of capital stock of the corporation shall be
transferable on the books of the corporation only, according to such
rules as shall be established by the president and directors; but all
debts actually due and payable to the corporation by a stockholder
requesting a transfer, must be satisfied before such a transfer shall
be made, unless the president and directors shall direct to the con-
trary.

Shares trans-
ferable.

ART. 17. — No loan shall be made by the said corporation for the
use or on account of this State, or the United States, to an amount
exceeding fifty thousand dollars, or to any other State of this Union,
or to any foreign prince or state, to any amount whatever, without

To whom loans
shall not be
made.

the previous consent of the legislature; and the capital stock and
funds of the corporation shall be deemed and taken to be personal,
and not real estate.

Capital stock
deemed per-
sonal estate

ART. 18. — The president and directors for the time being shall
give three weeks' public notice, in at least two daily newspapers
published in the city of Baltimore, of the time and place of holding
the annual election of directors, if the corporation be located in the
city of Baltimore, or in at least two newspapers published in the
county, if there be two newspapers published in the county where
the corporation may be located, if not located in said city.

Public notice of
annual election

ART. 19. — At all meetings of the stockholders of the corporation
created by this act for elections and other purposes, no person shall
be allowed to vote on any share or shares of stock at such meetings,
either in person or by proxy, unless the said person shall, if required
by a stockholder, make oath before the judges of election, or other
officers of the meeting, that he or she, as the case, may be, is the
lawful and bond fide owner of said stock, having purchased and paid,
or secured payment for the same, a full consideration, or received the
same by inheritance, bequest, marriage, distribution, or gift, and
without any understanding that the said stock is to be transferred

Oath of stock-
holder before
Toting

to the party from whom it was received, or in case of voting by proxy
or power of attorney, the person holding such proxy or power of

Vote by proxy

attorney, shall make oath or affirmation, if required by a stockholder,
that he believes his principal, for whom he offers to vote, bought and
paid, or secured the payment for the said stock, a full consideration,
or that the said principal, to the best of his knowledge and belief, is
the real bond fide owner of said stock, having acquired the same, as
the case may be, by inheritance, bequest, marriage, distribution, or

Oath.

gift, provided, however, that this provision shall only apply to such
shares of stock, in the corporations aforesaid, as shall appear to have
been transferred upon the books of the corporation within one year
next preceding the meeting at which it is offered to vote upon them.

Proviso.

ART. 20. It shall not be lawful for any of the banking institutions
by this act incorporated, to make discounts in or pay out any funds
or money other than the legal currency of the United States, notes

In what funds
to make pay-
ment.