1838.

LAWS OF MARYLAND.

CHAP. 143.

Dividends.

Restrictions.

Liabilities in case

of violating.

to make, and declare a dividend of the interest and
profits of the said corporation, after pacing its expen-
ses, and the same to pay over to the depositors, or their
legal representative or representatives, within ten days
notice thereafter; provided, that any dividend, hall be

said institution, the directors authorising and directing
said dividend, shall be jointly and severally liable for
the amounts of such dividend, but if any of the directors
shall be absent at the time of making said dividend, or
shall object thereto, and shall file their objection in
writing, they shall be exempt from said liability.

Restricted from

banking.

Or issuing notes.

Sec. 9. And be it enacted, That nothing in this act
contained shall be had or construed to authorise the
company incorporated by this act, to do any act or
acts inconsistent with the privileges secured to the
existing bank institutions in the city of Baltimore, by
the act of eighteen hundred and thirteen, chapter one
hundred and twenty-one, or by any other act or acts of
Assembly now in force, nor to authorise this corpora-
tion to issue any bill, note, or other device, in the na-
ture of a bank note.

Subject to inspec-

tion.

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

Location of the in-

stitution.

Sec. 11. And be it enacted. That in order that the
Western Mechanics' Savings Institution of Baltimore,
may have a permanent location for the transaction of
business, the banking house shall be located west of
Green Street.

Limit 1850.

Rights reserved.

Sec. 12. And be it enacted, That this act shall con-
tinue and be in force until the year eighteen hundred
and fifty and until the end of the session, of the next
General Assembly, which shall happen thereafter; pro-
vided, that the General Assembly hereby reserves the
right to repeal, alter and amend this charter at such
time as it may appear beneficial to the community or
the stockholders.