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Session Laws, 1924
Volume 568, Page 968   View pdf image (33K)
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968 LAWS OF MARYLAND. [CH. 373

CHAPTER 372.

AN ACT to repeal and re-enact with amendments Section 18
of Chapter 122 of the Acts of the General Assembly of Mary-
land of 1918, entitled, "An Act to enact a sanitary dis-
trict within Montgomery and Prince George's Counties,
etc. "

(Vetoed. )

CHAPTER 373.

AN ACT to amend the Charter of the "Clifton Savings Bank
of Baltimore City" a body corporate having its principal
office and doing business in Baltimore City, Maryland, by
repealing Sections 3 and 4 of the Act passed at January
Session, 1894, Chapter 228, entitled "An Act to Incorporate
the Clifton Savings Bank of Baltimore City", and to re-
enact the same with amendments.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Sections 3 and 4 of the Act passed at January Ses-
sion, 1894, Chapter 228, entitled "An act to incorporate the
Clifton Savings Bank of Baltimore City", be and the same
are hereby repealed, and that the same be and are hereby re-
enacted so as to read as follows:

SEC. 3. And be it enacted, That the affairs of said corpo-
ration shall be managed by a board of such number of Direc-
tors as its by-laws may provide; such number to be not less
than twelve nor more than twenty-five; that the first Directors
of said corporation shall be the persons named in the first
Section of this Act, and their successors, who shall annually,
in the month of January, elect from their number a President,
Treasurer, and such other officers as they may see fit: six of
said Directors, of whom the President or Treasurer shall be
one. shall form a quorum for the transaction of business and
the affirmative vote of at least six members of the Board
shall be requisite in making any order for or authorizing an
investment of money, or the sale or transfer of any stocks or
securities belonging to the corporation or appointment of any
officer receiving any salary therefrom.

SEC. 4. And be it enacted, That all vacancies by deaths,
resignation or otherwise, in the office of Directors, shall be filled
by the Board by ballot, without unnecessary delay, and at least
six votes shall be necessary for the election of a Director;

 

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Session Laws, 1924
Volume 568, Page 968   View pdf image (33K)
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