496

LAWS OF MARYLAND.

covert shall be valid, any law of this state to the con-

trary notwithstanding.

SEC. 10. And be it enacted, That all elections for

directors of said bank, every stockholder shall be en-

Votes stock-
holders entitled

titled to one vote for every share that he, she, it or

to have.

they may hold, to the number of not exceeding twenty

shares, and to one vote for every additional two shares ;

a plurality of the votes cast shall be sufficient to elect,

and the stockholders may vote either in person or by

proxy, but no share of stock shall entitle any holder

to a vote, which shall not have been holden two calen-

dar months previous to the day of election.

SEC. 11. And be it enacted. That it shall be the

duty of the directors, to lay before the stockholders of

said corporation once in each year, at a general meet-

Statement to

ing, for their information, an exact statement of the

stockholders.

financial condition and affairs of the bank, 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.

SEC. 12. And be it enacted, That the board of direc-

tors shall cause to be furnished to the treasurer of the

state, 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, if any

in circulation, of the cash on hand, specifying the

amount of coin and of notes of other banks, of the

value of real estate held by the corporation, and of the

Furnish state-
ment to treasu-

amount and value of public or other stocks owned by

rer annually.

the corporation; said statements to be furnished once

in each year, and to show the condition of the corpora-

tion in the said particulars, as they may appear at the

close of the business transactions of the day in settle-

ment thereof, on the first Monday of January; and

the said corporation shall publish said statement so

made to the treasurer, in one newspaper, published in

the town of Snow Hill; such statement in all cases to

be verified by the oath or animation of the president

or cashier of said corporation.

SEC. 13. And be it enacted., That it shall be lawful

for the said corporation to issue notes, usually denomi-

Amount and de-

nated bank notes, to an amount not at any time ex-

nomination of
uotes.

ceeding the amount of its capital stock actually paid

in; and no note shall be issued of a less amount or

denomination than five dollars, nor for any amount