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Session Laws, 1910 Session
Volume 487, Page 1348   View pdf image (33K)
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1348 LAWS OF MARYLAND.

holders 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.

SEC. 14. And be it enacted, That no director shall be enti-
tled to receive any pay or emolument for his services, except
such as shall have been provided for 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 stockholders.

SEC. 15. 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 com-
mitted 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 comply with the provisions con-
tained in Chapter 109, Laws of 1892, so far as the same may be
applicable; to purchase and hold such real estate and personal
property as may be necessary for the transaction of its busi-
ness; to issue letters of credit and other commercial obliga-
tions, and generally to do and transact a general banking busi-
ness.

SEC. 16. And be 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.

SEC. 17. And be it enacted, That the president, each director
and the cashier of said bank, before entering the duties of
his office, shall take and subscribe before a justice of the peace
or a notary public the following oath or affirmation: "I do
solemnly swear or affirm that I will faithfully, impartially,
diligently and honesty perform the duties of ................

the Boonsboro Bank, of Boonsboro, Maryland, to the best of my
skill and judgment," and said oaths or affirmations shall be filed
among the records of the bank.

SEC. 18. And be it enacted, That the total amount of the
debts which the said bank shall at any time owe, whether by


 

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Session Laws, 1910 Session
Volume 487, Page 1348   View pdf image (33K)
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