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The Maryland Code, Public General Laws, 1888
Volume 389, Page 102   View pdf image
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102 BANKS. [ART. 11..

1870, ch. 206, sec. 7.

23. The following rules, restrictions, limitations and provisions;
hall form and be fundamental articles of the constitution of each
of the said corporations, namely:

Article 1. Every stockholder shall be entitled to one vote for
every share which he may hold to the number of not exceeding
ten shares, and to one vote for every additional two shares, to the
number of not exceeding one hundred shares in all, and to one
vote for every additional five shares thereafter; but no share of
stock which shall not have been held four calendar months pre-
vious to the day of election shall entitle any holder to a vote;
and stockholders actually resident within the United States, and
none others, may vote at elections by proxy.

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 ceasing to be a citizen of this State, or stock-
holder.

Art. 3. No director of any one of the said corporations shall
be at the same time a director of any other bank in this State
and once in each year the directors shall lay before the stock-
holders of each of said corporations, at a general meeting, for
their information, an exact and particular statement of the debts
which shall have remained unpaid after the expiration of the
original credit and the surplus profits, if any, after deducting-
losses and dividends.

Art. 4. The treasurer of this State shall be furnished with
statements of the amount of the capital stock of the corporation,
and of the debts due to and from the same, specifying those due
to and from other banks, of the moneys deposited therein, of the
notes in circulation, of the cash on hand, specifying the amounts,
of coin, and of the notes of other banks, of the value of the
real estate held by the corporation, and of the amount and value
of publlc or other stocks owned by the corporation, said state-
ment to be furnished twice in each year, and to show the condi-
tion of the corporation in the said particulars, as the same shall
appear at the close of the business transactions of the day in.

 

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The Maryland Code, Public General Laws, 1888
Volume 389, Page 102   View pdf image
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