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Session Laws, 1908 Session
Volume 483, Page 1278   View pdf image (33K)
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1278 LAWS OF MARYLAND.

such dividend shall be deemed to have consented thereto, unless
he shall immediately enter his dissent in writing on the minites
of the proceedings of the board, and give public notice to the
stockholders that such dividend has been declared

Article 10. No director shall be entitled to receive any
emolument for his services in excess of the amount now paid,
unless the same shall have been allowed at a general meeting of
the stockholders, and the directors shall make such compensa-
tion to the president for his extraordinary attendance at the
bank as shall appear to them reasonable.

Article 11. 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 six
weeks' notice in a newspaper printed in Hagerstown, Wash-
ington county, and any number of stockholders owning not
less than one-fifth of the stock of the corporation may at any
time examine the books, papers and accounts of such corpora-
tion, or may apply to the said president and directors to call a
genera] meeting of the stockholders for any purpose relative to
the institution; and if the president and directors shall refuse
to call such meeting, the said number of stockholders, owners of
not less than the aforesaid number of shares, shall have power
to call a general meeting of the stockholders, giving notice as
aforesaid and specifying in such notice the objects of such
meetings; and it is hereby made the duty of the president and
directors of said bank, upon the application of any ten stock-
holders, for that purpose, to give such stockholders a full list,
of names of all the stockholders in said bank.

Article 12. Every cashier and other financial officers, before
they enter upon the duties of their respective offices, shall be re-
quired to give bond to the satisfaction of the president and
directors in such sum or sums as said president and directors
may determine, with the condition for the faithful discharge of
their duties.

Article 13. The lands, tenements and hereditaments which it
shall be lawful for the said corporation to hold shall only be
such as shall be requisite for its immediate accommodation, in
relation to the convenient transaction of its business, and such
as shall have been bona fide mortgaged or conveyed to it by way
of security or in satisfaction of debts contracted in the course
of its dealings, or purchased at sale upon judgments which
shall have been obtained for such matter.

Article 14. That the corporation shall not deal or trade in
anything except bills of exchange, promissory notes and bul-
lion, or in the produce of their lands, or of such goods and

 

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Session Laws, 1908 Session
Volume 483, Page 1278   View pdf image (33K)
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