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Session Laws, 1832
Volume 547, Page 206   View pdf image (33K)
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1832.

LAWS OF MARYLAND.

CHAP. 182.

termination of said suits, and until the final recovery of
the money due on said judgments and decrees, by such
final process and legal proceedings as may be ordered by
said Bank; and any suit or suits hereafter brought by said
commissioners in the corporate name of the Cumberland
Bank of Allegany, in law and equity, before the appoint-
ment of Directors under this act, shall be continued in
said name as aforesaid, until the termination and final re-
covery of the money due by such final process, and by
such final legal proceedings as may be ordered by sard
Bank.

Case of non-accep-

tanse of this char-

ter

Sec. 10. And be it enacted, That if a majority of the
stockholders holding a majority of the shares of stock it
their meeting on the first Monday of April next, shall de-
termine not to accept a revival of the charter of said bank
as provided for in this act, then the said commissioners

Proceed to wind

up the concerns.

shall proceed to wind up and close the concerns of the
said Bank, as directed by the act of December session,
eighteen hundred and twenty-three, chapter one hundred
and forty-four, and the act of December session, eighteen
hundred and twenty-six, chapter one hundred twenty-eight;

Method of voting

on the questions

Provided, that in voting said determination the stockhold-
ers shall vote as follows: — 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 exceeding 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; and no person or persons, or body poli-
tic shall be entitled to a greater number than thirty votes;
and all votes shall be by ballot, delivered in person or by
proxy.

Limitation of the

charter to 1845

Sec. 11. And be it enacted, That the charter of the Cum-
berland Bank of Allegany, revived and re-established by
this act, shall be continued in full force and operation, un-
til the year eighteen hundred and forty-five, and until the
session of the General Assembly next thereafter.



 
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Session Laws, 1832
Volume 547, Page 206   View pdf image (33K)   << PREVIOUS  NEXT >>


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