T. HOLLIDAY HICKS, ESQ., GOVERNOR.

1860.

nothing herein contained shall be construed to
authorise said corporation to issue any bill note or
other device in the nature of a bank note.

CHAP. 70.

SEC. 5. And be it enacted, That it shall be the
duty of the directors to appoint at least once in
every twelve months, five competent members of
said corporation as a committee of examination
whose duty it shall be to investigate the affairs of
said corporation, and to make and publish a re-
port of such investigations in one or more newspa-
pers published in Carroll county, and it shall be
the duty of the directors at least once in every six
months in each and every year to make and declare
such dividends of the interest and profits of said in-
stitution as will not impair the deposits thereof or
otherwise injure or affect the interest or credit of
said institution, and the same to pay over unto
the depositors or their legal representatives within
ten days thereafter if called upon so to do.

Committee of
investigation.

SEC. 6. And be it enacted, That the stockhold-
er or depositor who may be indebted to the said
institution shall be permitted to transfer their
stock or deposits until such indebtedness be paid,
satisfied or otherwise recurred to the satisfaction of
the directors.

Right to
transfer stock.

SEC. 7. And be it enacted, That in all discounts
or loans to be made by said corporation it shall be
governed in its calculation of interest by Row-
litt's tables.

Interest —
how calcula-
ted.

SEC. 8. And be it enacted, That the concerns of
the institution hereby intended to be incorporated
shall at all times be subject to the inspection of
the Treasurer of Maryland or of said other officer
or agent of the State of Maryland as may be ap-
pointed or selected for that purpose by either
branch of the Legislature.

Concerns of
the institution
subject to in-
spection.

SEC. 9. And be it enacted, That the capital stock
of the said corporation shall not exceed the sum of
two hundred thousand dollars until an additional
capital be authorised, by the General Assembly.

Capital stock.

SEC. 10. And be it enacted, That the Legislature
shall at all times have the right to alter or amend
this act and the same shall continue and be in force
for thirty years from the date of its passage.

Reservation.