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Session Laws, 1878
Volume 399, Page 743   View pdf image (33K)
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JOHN LEE CARROLL, ESQUIRE, GOVERNOR. 743

provided also, that such by-laws shall not be con-

 

trary to any law of this State, or of the United

 

States.

 

SEC. 6. And be it enacted, That no stockholder,

 

unless he be a citizen of the State of Maryland,

 

shall be eligible as a director or president of said

Who is eligi-

ble

corporation; and every president or director, as

 

the case may be, shall cease to be a director or

 

president upon his ceasing to be a stockholder or

 

citizen of this State.

 

SEC. 7. And be it enacted, That the said corpora-

 

tion shall have power to borrow money and pay

 

interest thereon ; receive money on deposit, and to

Receive

loan money, or to discount in accordance with

money on de-
posit.

bank usage, taking such security therefor, either

 

real or personal, as the Board of Directors of said

 

bank may deem sufficient ; may buy and sell bills

 

of exchange, notes, bonds or other security ; may

 

accept and hold all such trusts as shall or may be

 

committed to it by any person, or by the order and

 

discretion of any judge or any court or tribunal ;

 

may make such special regulations in reference to

Make special

trust funds and special or other deposits as the

regulations.

Board of Directors may think advisable ; may pur-

 

chase and hold such real and personal estate and

 

property as may be necessary for the accommoda-

 

tion and transaction of its business; may issue

 

letters of credit and other commercial obligations,

 

and generally may do and transact a general bank-

 

ing business.

 

SEC. 8. And be it enacted, That the board of Di-

 

rectors shall have power to regulate all matters

 

pertaining to special or trust deposits, the amount
to be received at any time, and the manner in

Fix amount
to be received

which the same shall be received or paid, as the

 

case may be, and to make all needful regulations

 

in that behalf; provided that the aggregate amount

 

of said special or trust deposits snail not at any
time exceed the capital stock of said bank.

 

SEC. 9. And be it enacted, That whenever any de-

 

posit shall be made by a minor or married woman,

How received

such deposit shall be received or held and paid out

and paid out.



 

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Session Laws, 1878
Volume 399, Page 743   View pdf image (33K)
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