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The Maryland Code Public General Laws, 1904
Volume 393, Page 308   View pdf image (33K)
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308 BANKS. [ART. 11

corporation may be located, if not located in said city; and any
number of stockholders owning not less than one-fifth of the
stock of the corporation may at any time apply to the said,
president and directors to call a general meeting of the stock-
holders 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
bonk, upon the application of any ten stockholders 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
as shall have been bona fide mortgaged or conveyed to it, by
way of security, or in satisfaction of debts contracted in the
course of its dealings, or purchased at sales upon judgments,
which shall have been obtained for such debts; provided,,
however, that it shall not be lawful for any such corporation
to hold any real estate purchased at sales upon judgments as
aforesaid, for more than three years, from and after the time
of such purchase, when judicious sale thereof may be effected,
within the said three years.

Art. 14. The corporation shall not deal or trade in anything
except bills of exchange, promissory notes and bullion, or in
the produce of its lands or of such goods and effects as shall
have been bona fide pledged or mortgaged to it by way of secu-
rity, or conveyed to it in satisfaction of debts contracted in
the course of its dealings, or purchased at sales upon judg-
ments, which shall have been obtained for such debts; pro-


 

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The Maryland Code Public General Laws, 1904
Volume 393, Page 308   View pdf image (33K)
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