1356 LAWS OF MARYLAND.

of their number, and one person may hold both offices; and
they shall also have power to appoint and employ such other
officers, clerks and agents as the business of said corporation
from time to time requires. All elections shall be by ballot,
and at such elections and at all meetings of stockholders every
stockholder shall be entitled to one vote for every share of
stock held, by him, and they may vote either in person or by
proxy, but no -person shall be eligible as director who is not a
stockholder to the amount of at least ten shares of stock.
Other general meetings of the stockholders for such purpose
and in accordance with such unless as may be prescribed by the
by-laws of said corporation may be called by the directors or a
majority of them.

SEC. 6. And be it enacted, That ten days' notice shall be
given by publication in one newspaper published in Dorchester
county of the time and place of said annual election; which
election shall be conducted by three stockholders to be named
by the directors from the body of stockholders, one of whom
shall be designated as judge and the other two inspectors.

SEC. 7. And be it enacted, That the directors shall have
power to declare dividends of the profits, of said corporation as
they may deem proper; provided, that no dividends shall be
declared when the capital stock would be impaired thereby.

SEC. 8. And be it enacted, That the directors of said cor-
poration shall have power to enact and adopt rules, regula-
tions and by-laws to cary out the objects of this Act and for
the organization and government of the corporation, as well
as for the application and maintenance of its funds and profits
as therein provided, copies of which shall at all times be ac-
cessible to all persons transacting business with said corpora-
tion; such by-laws shall not be inconsistent with the laws of
this State, and may from time to. time be altered and amended
by the directors, or a majority of them; and such by-laws so
made in accordance with the object of this Act shall be legal
and binding until altered, amended or repealed.

SEC. 9. And be it enacted. That the corporation shall have
power to purchase and hold, bargain and sell, grant, assign and
convey land, or any interest or estate therein, chattels, choses
in action, checks, notes, bills receivable, bills payable, bills of
exchange, due bills, certificates of deposit, warehouse receipts,
stocks, bonds, mortgages on real estate, leasehold or chattel
property, and every evidence of debt; to advance money upon
the security thereof by receiving and holding the same on such
terms as may be agreed upon or established by the said cor-
poration, or of accepting mortgage or other liens thereon, and