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The Maryland Code, Public General Laws, 1888
Volume 389, Page 107   View pdf image
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ART. 11] REGULATIONS OF BANKS. 107

to such rules as shall be established by the president and direc-
tors ; but all debts actually due and payable to the corporation by
a stockholder requesting a transfer, must be satisfied before such
transfer shall be made, unless the president and directors shall
direct to the contrary.

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 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.

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.

Art. 19. At all meetings of the stockholders of the corporation
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 bona 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 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 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 bona fide

 

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The Maryland Code, Public General Laws, 1888
Volume 389, Page 107   View pdf image
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