672

LAWS OF MARYLAND.

Liability.

shall be liable in their individual capacities for
the amount or proportion of the capital stock
so divided by the directors ; and each director
who shall be present at the making or declaring
of such dividend shall be deemed to have con-
sented thereto, unless he shall immediately enter
his dissent, in writing, on the minutes of the pro-
ceedings of the board and give public notice to
the stockholders that such dividend has been
declared.
SEC. 17. And be it enacted, That the president,

Business— by
whom con-
ducted.

or vice-president, and a majority of the. directors
shall constitute a board for the transaction of
the business of the corporation, but the ordinary
discounts may be made or granted by the presi-
dent or vice-president and two directors; and in
case of sickness or necessary absence of the
president and vice-president of the bank their
place may be supplied by a member of the board
whom the president or vice-president, by writ-
ing, may select or appoint as president pro tem

during such absence.
SEC. 18. And be it enacted, That no director

Pay of direc-
tors, etc.

shall be entitled to receive any pay or emolu-
ment for his services unless the same shall have
been allowed at a general meeting of the stock-
holders; nor shall the president or vice-president
be entitled to receive any pay or emolument for
their services unless the same shall have been
allowed at a general meeting of the stockholders.
SEC. 19. And be it enacted, That the president

General meet-
ing.

and directors, or, in case of the absence of the
president, the vice-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 news-
paper or newspapers, published in the town of
Oakland, 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 corpora-
tion may at any time apply to the said presi-
dent, or vice-president, and directors to call a
general meeting of the stockholders for any
purpose relative to the institution ; and if the
president, or vice-president, and directors shall
refuse to call such meeting, the stockholders