1860.

LAWS OF MARYLAND.

CHAP. 70.

from all or any of the officers, agents or servants
by them so appointed with security conditioned in
such form as they shall prescribe or deem sufficient
for the faithful performance of their several du-
ties, and to secure the corporation from loss, to re-
gulate the manner of making and receiving de-
posits, the form of certificates to be issued to deposi-
tors and the manner of transferring stock in the
said institution, to provide for the investment 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 to furnish proof,
evidence of such admissions, to provide for paying all
necessary expenses incurred in conducting the af-
fairs of the corporation, and generally to pass all
such by-laws as shall or may be necessary to the
exercise of said powers and the powers vested in
said corporation by this charter or act of incor-
poration, and the same by-laws to alter, amend or

Provisos.

repeal; Provided, that such alteration amend-
ment or repeal shall only be made or done through
and by a majority of the members of said corpora-
tion assembled at any annual meeting or any gen-
eral meeting called in pursuance of any by-law
made and passed as aforesaid for that purpose;
and provided further, that a majority of the mem-
bers may at any annual or general meeting pass
by-laws which shall be binding upon the president
and directors of said Westminister Saving Institu-
tion; Provided, that such by-laws shall not be
contrary to the Constitution and laws of this State
or of the United States; and provided further, that
no person shall be an officer or director of said in-
stitution who is an officer or director of any other
monied institution.

Deposits to be
invested.

SEC. 4. And be it enacted, That the said cor-
poration shall be capable of receiving from any free
white person or persons or bodies corporate or
politic any deposit or deposits of money and that
all moneys so received shall be invested in public
stock or other securities or at the discretion of the
directors in such manner as may be deemed most

Provisos.

safe and beneficial; Provided, that no part of the
funds of said institution shall be loaned to any
officer or director of said institution greater than
two-thirds of the amount of his bona fide deposits
therein, which deposits shall be held as security
for the payment thereof; and provided always, that