1088

LAWS OF MARYLAND.

Management

SEC. 16. And be it enacted, That the president and a rna-
jority of the directors shall constitute a board for the trans-
action of the business of the corporation, but the ordinary
discounts may be made or granted by the president and two
directors; and in case of sickness or necessary absence of the
president of the bank, his place may be supplied by a mem-
ber of the board, whom the members shall select or appoint
as president pro tempore during his absence.

Pay of

directors

SEC. 17. And be it enacted, That no director shall be entitled
to receive any pay or emolument for his services, unless the
same shall have been allowed at a general meeting of the
stockholders, nor shall the president be entitled to receive any
pay or emolument for his services, unless the same shall have
been allowed at a general meeting of the stockholders.

Meetings of
stockholders

SEC. 18. And be it enacted, That the president and directors
of the corporation may at any time call a general meeting of
'' the stockholders for any purpose relative to the institution,
giving at least two weeks' notice by advertisement in some
newspaper published in Washington county, Maryland, of the
time and place of such meeting; and any number of the
stockholders owning not less than one-fourth of the stock of
the corporation, 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 stockholders
owning not less than the aforesaid amount of one fourth of the
stock of the corporation shall have power to call a general
meeting of the stockholders, giving notice as aforesaid, and
specifying in such notice the object of such meeting; and it is
hereby made the duty of the president and directors of the
bank, upon the application of any of the stockholders, owners
of not less than one fourth of the capital stock, to furnish to
such stockholders a full and correct list of the names of all
the stockholders of the bank.

Real Estate
bank may
hold.

SEC. 19. And be it enacted. That the lands, tenements und
hereditaments which shall be lawful for the said corporation
to hold, shall be only such as shall be requisite for its imme-
diate accommodation in relation to the convenient transaction
of its business, or such as shall have been bona tide mortgaged
or conveyed to it by way of security, or in satisfaction for
debt contracted in the course of its dealings, or purchased at
sales upon judgments or decrees which shall have been obtained
for such debts, or foreclosures of mortgages, or at mortgagee's