JAMES THOMAS, ESQUIRE, GOVERNOR.

1832.

members of said corporation, three competent persons, as
a committee of examination, whose duty it shall be to in-
vestigate the affairs of said corporation, and to make out a
report thereof in writing, which report shall be laid before
the members of said corporation at a general meeting to be
called, and proper notice given by and at the discretion of
the Directors.

CHAP. 29.

Sec. 6. And be it enacted, That the stock in the Jef-
ferson Savings Institution may be transferred by the hold-
er or holders, in person or by power of attorney; but no
stockholder, who is a debtor to the Institution, shall be
permitted to transfer his stock, until such debt be paid or
otherwise secured to the satisfaction of the Directors.

Transgers.

Sec. 7. And be it enacted, That the President and
any other three Directors, or in the absence of the Presi-
dent, any four Directors shall constitute a quorum to trans-
act the ordinary business of the corporation; and in the
absence of the President, the Directors, forming a quorum
as aforesaid, shall chose one of their own body to act as

Quorum.

President pro tempore, and in case of the death, resigna-
tion, or inability to act, of the President, or any Director,
the vacancy shall be supplied by their own body, from
among the members, until the next stated meeting there-
after.

Vacancies.

Sec. 8. And be it enacted, That it shall be the duty of
the said Directors, on the first Monday of February, eigh-
teen hundred and thirty-four, and on the first Monday in
February and August of each and every year thereafter, to
make and declare a dividend of the interests and profits of
said corporation, after paying its expenses, and the same
to pay over unto the depositors, or their legal representa-
tives, within ten days thereafter.

Dividends.

Sec. 9. And be it enacted, That the Directors be, and
they are hereby authorized and empowered, to regulate
their calculations of interest by "Hewlett's Tables," and
to exact the payment of the same, at the time of discount-
ing and renewing their notes.

Calculation of in-

terest

Sec. 10. And be it enacted, That the concerns of the
Institution hereby intended to be incorporated, shall be at
all times subject to the inspection of the Treasurer of the
Western Shore, or by such other officer or agent of the
State, as may be selected for that purpose, by either branch
of the Legislature.

Right of inspec-

tion reserved

Sec. 11. And be it enacted, That this act shall continue
and be in force until the year eighteen hundred and forty-
five, and until the end of the next session of the General
Assembly which shall happen thereafter.

Act limited to 1845