THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1836.

funds, money and credit of the said bank as they or a
majority of them may deem expedient, subject however
to the restrictions and limitations hereinafter men-
tioned.

CHAP. 295.

SEC. 7. And be it enacted, That the following rules,
restrictions, limitations and provisions shall form and
be the fundamental articles of the constitution of the
said corporation.

Rules

ARTICLE 1. The number of votes to which each
stockholder shall be entitled shall be according to the
number of shares he shall hold, in the proportion fol-
lowing, that is to say: — For one share and not more
than two shares, one vote each; for every two shares
above two and not exceeding ten, one vote; for every
four shares above ten and not exceeding thirty, one
vote; for every six shares above thirty and not exceed-
ing sixty, one vote; for every eight shares above sixty
and not exceeding one hundred, one vote, and for every
ten shares above that number, one vote; but no person
or body politic shall be entitled to a greater number

Votes rated

than sixty votes, and no share or shares shall confer a
right of suffrage which shall not have been holdun four
calendar months previous to the day of election; and
stockholders actually resident within the United States,
and none other, may vote at elections or in general
meetings by proxy.

Time held

ART. 2. None but a stockholder shall be eligible as
director or president, and every president or director
as the case may be, shall cease to be a director or presi-
dent upon his ceasing to be a stockholder, and the
president, chief cashier or Treasurer, shall reside in

Qualification

or near to the town of Cumberland, where the said
bank shall be established.

Residence

ART. 3. No director of any other bank shall be at
the same time a director of this bank, and once in each
year the directors shall lay before the stockholders at
a general meeting for their information, an exact and

Eligibility

particular statement of the debts, which shall have re-
mained unpaid after the expiration of the original cred-
it, and the surplus profit, if any, after deducting losses
and dividends.

Annual state-
ment

ART. 4. The Treasurer of the Western Shore, for
the time being shall be furnished once a year or often-
31

Report to Treas-
orer W.S.