1832.

LAWS OF MARYLAND.

CHAP. 179.

a President from their own body, or from among the other
members, to appoint all such officers, agents, and servants
as they shall deem necessary to conduct or execute the bu-
siness and affairs of said institution, to fix their compen-
sation, and in their discretion to dismiss them; to provide
for the taking bonds to the corporation from all or any of
the officers, agents, or servants, by them so appointed, with
security conditioned in such form as they shall prescribe
for the faithful execution of their several duties, and to se-
cure the corporation from loss; to regulate the manner of
making and receiving deposits, the form of certificates to
be issued to depositors, and the manner of transferring the
same; to provide for the investments of the funds of the
corporation in such manner as they shall deem most safe
and beneficial; to provide for the admission of members,
and furnishing proof of such admission; to provide for pay-
ing all necessary expenses in conducting the affairs of the
corporation, and generally to pass all such by-laws, as shall
be necessary to the exercise of the said powers, and of the
other powers vested in said corporation by this charter,
and the said by-laws, from time to time to alter and repeal;

Proviso

Provided, that all such by-laws as shall be made by the
Directors, may be altered or repealed by a majority of the
members assembled at any annual meeting or at any general
meeting called in pursuance of any by-law made for that
purpose, and a majority of the members may at any annu-
al or general meeting, pass by-laws which shall be binding
upon the Directors; provided, that such by-laws shall not
be contrary to the laws of this state, or of the United
States.

May receive depo-

sits

Sec. 4. And be it enacted, That said corporation shall
be capable of receiving from any free person or persons,

Make investments

any deposit or deposits of money, and that all monies so
received, shall be invested in public stock or other securi-
ties at the discretion of the Directors, and in the manner

Provisos

deemed most safe and beneficial; provided always, that
such investments of the funds of the corporation shall be
in the manner provided for in the by-laws, and that no Di-

Liabilities.

rector or member shall be liable in his person, or property,
for any debts, contracts, or engagements of the said cor-
poration, but that the monies, properties, rights and cre-
dits of said corporation, and nothing more shall be liable

Coimmittee of ex

amination

Sec. 5. And be it enacted, That it shall be the duly of
the Directors at least once every six months, to appoint
from the members of said corporation five competent per-