594

LAWS OF MARYLAND.

Elections for
directors.

for each share of stock that he, she, it or they may hold to the
number of twenty shares, and to one vote for every two shares
in excess of twenty; a majority of the votes cast shall be
sufficient to elect, and stockholders may vote either in person
or by proxy; but no share of stock shall entitle the holder to
a vote which shall not have been held two months previous to
the election by said holder.

Pay of

directors,

SEC. 13. And le it enacted, That no director shall be
entitled to receive any pay or emolument for his services,
except such as shall have been provided at a general meeting
of the stockholders; nor shall the president be entitled to
receive any pay or emolument for his services, except such
salary as may be allowed at a general meeting of the stock-
holders.

May borrow
money,
receive
deposits,
etc.

SEC. 14. And be it enacted, That the said bank shall have
power to borrow money, receive money on deposit and pay
interest thereon; to loan money or to discount in accordance
with bank usage, taking such security therefor, either real or
personal, as the board of directors may deem sufficient; to buy
and sell bills of exchange, notes, bonds or other securities; to
accept and hold all such trusts as shall or may be committed to
it by any person or by the order and direction of any judge,
court or tribunal; to make such special regulations in reference
to trust funds and special deposits as the said board may think
advisable; provided, that before any of the powers herein
recited relative to trusts shall be exercised by said bank, it
shall in all respects complv with the provisions contained in
chapter 109, laws of 1892, so far as the same may be applica-
ble to purchase and hold such real estate and personal prop-
erty as may be necessary for the transaction of its business ;
to issue letters of credit and other commercial obligations, and
generally to do and transact a general banking business.

Deposits by
minors and
married
women.

SEC. 15. And le it enacted, That whenever any deposit shall
be made by a minor or married woman, such deposits shall be
received held and paid out on precisely the same terms and
conditions as those of other depositors, and the check, receipt
or acquittance of such minor or married woman shall be valid
for any sum so deposited by him or her, any law of this State
to the contrary notwithstanding.

Oath of
officers

SEC 16. And be it enacted, That the president, each director
and the cashier of said bank, before entering upon the duties
of his office, shall take and subscribe before a justice of