1838.

LAWS OF MARYLAND.

CHAP. 143.

er to elect a president from their own body, or from

among the other members, to fill all vacancies that may
occur in the presidency or directory; to appoint all
such officers, agents and servants, as they shall deem

necessary to conduct or execute the business and affairs

Compensation.

of the institution, to fix their compensation, and in their
discretion; to dismiss them, to provide for the taking
of bonds to the corporation, from all or any of the offi-
cers, agents or servants, by them so appointed, with
security conditioned in such form as they shall pre-
scribe for the faithful execution of their several duties,

Regulating depos-

ites.

and to secure the corporation from loss; to regulate
the manner of making and receiving deposites, the

form of certificate to be issued to depositors, and the

Transfers.

manner of transferring the same; to provide for the
investment of the funds of the corporation, in such

manner as they shall deem most safe and beneficial; to

Admission of mem-

bers.

General powers.

By-laws.

provide for the admission of members, and furnishing
proof of such admission; to provide for paying all ne-

cessary expenses in conducting the affairs of the cor-

poration, and generally to pass all such by-laws, as
shall be necessary to the exercise of said powers, and
of the other powers vested in said corporation by this
charter; and the said by-laws from time to time, to

Restrictions.

alter and repeal; provided, that all such by-laws as
shall be made by the directors, may be altered or re-
pealed by a majority of the members assembled at any
annual meeting, or at any general meeting, called in
pursuance of any by-law made for the purpose; and a
majority of the members may at any annual or general
meeting, pass by-laws which shall be binding upon the
the directors; provided, that such by-laws shall not be
contrary to the laws of this State, or the Constitution

Number of deposit-

ors not restricted.

of the United States; provided, that nothing herein
contained shall be so construed, as to confer authority
on the directors, or stockholders, by any rule or by-
law, to resist or limit the number of weekly depositors
who may desire to deposite or become members of said

Proviso.

corporation; provided the amount made by each depo-
sitor, be not less than the minimum sum of one dollar
per week, and that they in all things comply with the
provisions of this act. and the rules and by laws which
may from time to time be adopted.