1829.
LAWS OF MARYLAND.
CHAP. 84.
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and with the like effect, as foreign bills of exchange
now
are, and those which are payable to bearer shall be negotiable
or assignable by delivery only.
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Judges of elections.
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Sec. 25. And be it enacted,
That any two justices of the
peace of the state of Maryland, are authorised to act as judges,
on application of the commissioners, or any two of them, at
the first election for Directors, and [that] at all subsequent elections
for the same, on application of the Board of Directors.
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Books subject
to inspection—directors
personally
responsible for declaring
improper dividends.
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Sec. 26. And be it enacted,
That the books, papers, correspondence
and funds of the company, shall at all times e
subject to the inspection of the Directors; and if the said Directors
shall at any time wilfully and knowingly make or declare
any dividend, which shall impair the said capital stock,
all the Directors present at the making or declaring of such
dividend, and consenting thereto, shall be liable in their individual
capacities to the company, for the amount of proportion
of the said capital stock so divided by the said Directors;
and each Director who shall be present at the making or declaring
of such dividend, shall be deemed to have consented
thereto, unless he shall immediately enter in writing his dissent
on the minutes of the proceedings of the Board, and give
public notice to the stockholders that such dividend has been
declared.
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General meeting
of stockholders—
notice thereof.
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Sec. 27. And be it enacted,
That a majority of the Directors,
or any number of stockholders, not less than thirty, and
holding not less than one hundred and fifty shares, may, at
any time, call a general meeting of the stockholders, for objects
relative to the interest of the company, and giving not
less than two months thereof in some newspaper published
in Somerset county, and if no such paper be published in both
of said counties, then by public advertisements, set up at the
most public places in such county as shall have no such paper,
and if no such paper be published in either of the said counties,
then by public advertisements, set up in the most public
places in each of the said counties.
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Notice of election
of directors.
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Sec. 28. And be it enacted,
That the President and Directors
shall give at least sixty days public notice of every election
for Directors, prior to the holding of such election, either
by advertisements, in newspapers as aforesaid or by advertisements
put up in the most public places of the said two counties
as aforesaid.
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Duration of charter.
Pay school tax.
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Sec. 29. And be it enacted,
That this charter shall continue
to the year eighteen hundred and forty-five, and until the end
of the session of the General Assembly thereafter, Provided,
the said Bank shall annually pay to the Treasurer of the
Western Shore of the State of Maryland, the sum of twenty
cents on every hundred dollars of the capital stock of the said
Bank actually paid in, which sum shall be and hereby is pledged
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