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The Maryland Code, Public General Laws, 1888
Volume 389, Page 105   View pdf image
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ART. 11.] REGULATIONS OF STATE BANKS. 105

Art. 10. No director shall be entitled to receive any emolu-
ment for his services, unless the same shall have been allowed at
a general meeting of the stockholders; and the directors shall
make such compensation to the president for his extraordinary
attendance at the bank, as shall appear to them reasonable.

Art. 11. The president and directors of the corporation may at
any time call a general meeting of its stockholders, for any pur-
pose relative to the institution, giving at least six weeks' notice
in two or more daily newspapers printed in Baltimore city, if
the corporation be located in said city, or in a newspaper printed
in the county town of the county in which the corporation may
be located, if not located in said city; and any number of stock-
holders owning not less than one-fifth of the stock of the corpo-
ration, may at any time apply to the said president and directors
to call a general meeting of the stockholders for any purpose
relative to the institution; and if the president and directors shall
refuse to call such meeting, the said number of stockholders,
proprietors of not less than the aforesaid number of shares, shall
have power to call a general meeting of the stockholders, giving
notice, as aforesaid, and specifying in such notice the objects of

such meeting; and it is hereby made the duty of the president
and directors of said bank, upon the application of any ten stock-
holders for that purpose, to give such stockholders a full list of
the names of all the stockholders in said bank.

Art. 12. Every cashier or treasurer, before he enters upon the

duties of his office, shall be required to give bond, with two or
more securities, to the satisfaction of the president and directors,
in a sum not less than fifty thousand dollars for the larger banks,
nor less than twenty thousand dollars for those banks whose

capital does not exceed three hundred thousand dollars, with a
condition for the faithful discharge of his duties.

Art. 13. The lands, tenements and hereditaments which it
shall be lawful for the said corporation to hold, shall be only
such as shall be requisite for its immediate accommodation in
relation to the convenient transaction of its business, and such an
shall have been bona fide mortgaged or conveyed to it, by way

of security, or in satisfaction of debts contracted in the course of

 

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The Maryland Code, Public General Laws, 1888
Volume 389, Page 105   View pdf image
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