332

LAWS OF MARYLAND.

public debt and other stock : the amount of debts
due to and from the association ; which statement
shall be certified to by the President and Secre-
tary, and reported to the annual meeting of the
stockholders.

Act not to be
construed as
conferring pri-
vileges.

Sec. 11. And be it enacted, That nothing herein
contained shall be so construed as to confer bank-
ing privileges upon said company, to issue any
note, token, scrip, device, or other evidence of debt
to be used as a currency.

Stockholder's
individual pro-
perty responsi-
ble for the con-
tracts of com-
pany.

Sec. 12. And be it enacted, That no stockholder
or other member of this association, shall be an-
swerable in his person, or individual property, for
any contracts or agreements of said association, or
for any losses, deficiencies or failure, of the capi-
tal stock of this association, but the whole of the
capital stock, together with all property, rights
and credits, belonging thereunto, and nothing
more, shall, at any time, be answerable for the de-
mands against the said association.

Stock trans-
ferable.

Sec. 13. And be it enacted, That the stock of
this association may be assigned and transferred
on the books, in person, or by proxy, or by attor-
ney only ; but no stockholder indebted to the as-
sociation shall be permitted to make a transfer, or
receive, any dividend, until such debt is paid or
secured to be paid, to the satisfaction of the Presi-
dent and Board of Directors.

General meet-
ings.

Sec. 14. And be it enacted, That the Presi-
dent and Directors may call a general meeting of
the stockholders, for any purpose relative to the
affairs of the association, giving at least fifteen
days notice thereof, in one or more daily news-
papers in the city of Baltimore, and it shall be the
duty of the Secretary, to give notice of such call
to each stockholder, not a resident of the city of
Baltimore, through the medium of the post office,
and such notice shall specify the object of such
meeting ; and, if the President and Directors shall
refuse to call such meeting, stockholders, proprie-
tors of one thousand shares, shall have power to
call such meeting, in the manner specified, giving
notice in one or more daily newspapers in the city
of Baltimore, and special notice to the stockholders,
not residents of the city of Baltimore.