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1st. The number of votes to which each stockholder shall be entitled shall be according to the
number of shares he shall hold, in the proportions following; that is to say, for one share, and not
more than two shares, one vote each; for every two shares above two, and not exceeding ten, one
vote; for every four shares above ten, and not exceeding thirty, one vote; for every six shares
above thirty, and not exceeding sixty, one vote; for every eight shares above sixty, and not' ex-
ceeding one hundred, one vote; and for every ten shares above that number, one vote; but no per-
son or persons, or body politic, shall be entitled to a greater number than thirty votes; and no share
or shares shall confer a right of suffrage which shall not have been holden four calendar months
previous to the day of election; stockholders, actually resident within the United States, and none
other, may vote at elections by proxy.
3d. None but a stockholder, being a citizen of the United States, and residing in the city of Bal-
timore, or the precincts thereof, except the directors appointed on the part of the state, shall be
eligible as a director or president; and every president or director, as the case may be, shall cease
to be a director or president upon his ceasing to be a stockholder, or to reside in the city of Balti-
more, and the precincts thereof, except as before excepted.
3d. No director of any other bank shall be a director in this bank, nor shall any person be a di-
rector in this bank who is a partner in trade with a director in any other bank; and that one fifth of
the directors elected by the stockholders shall go out annually, of which fifth only one shall be a
mechanic of manufacturer, unless such description of directors shall exceed the number nine.
4th. The president and directors for the time being shall give six weeks public notice in two or
more news-papers printed in the city of Baltimore, of the time and place of holding the election of
directors, annually.
5th. The president, and each director, before he enters upon the duties of his office, shall take
the following oath, or affirmation, as the case maybe: "I, ——— —— ? do solemnly swear, for af-
"firm, ) that I will impartially, faithfully, diligently and honestly, execute the duties of ----- of
"the Mechanics Bank of Baltimore, conformably to the constitution of the same, and the trusts
"reposed in me, to the best of my skill and judgment; " and the cashier, tellers, book-keepers, and
other officers and servants of this bank, shall also take a similar oath, or affirmation, and shall be-
sides give bonds, with security, to the satisfaction of the president and directors, for the faithful
discharge of their duties.
6th. If the president, or any director, the cashier, or any other officer of the said bank, shall
be concerned, directly or indirectly, in purchasing any note or notes, bill or bills, at more than
lawful discount or interest, and information thereof be given, and supported to the satisfaction
of a majority of the board or quorum of directors, his or their seat or seats, or office, shall be
vacated, and the directors shall fill up such vacancy or vacancies.
7th. The total amount of the debts which the said corporation shall at any time owe, whether by
bond, bill, note or other contract, shall not exceed double the amount of the capital actually paid
into the said bank; provided, that the money deposited in the said bank for safe keeping shall not
be considered as the debts of the bank within the provision of this clause, (unless the contracting
of any greater debt shall have been previously authorised by a law of the state; ) in case of excess
the directors, under whose administration it shall happen, shall be liable for the same in their natu-
ral and private capacities, and an action of debt may in such case be brought against them, or any of
them, or their heirs, executors or administrators, in any court of record of this state, by any cre-
ditor or creditors of the said corporation, and may be prosecuted to judgment and execution, any
condition, covenant or agreement, to the contrary notwithstanding; but nothing herein contained
shall be construed to exempt the said corporation, or the lands, tenements, goods and chattels' of
the same, from being also liable for, and chargeable with, the said excess; and such of the said
directors who may have been absent when the said excess was created, or who may have dissented
from the resolution or act whereby the same was created, may respectively exonerate themselves
from being so liable, by forthwith giving notice of the fact, and of their absence or dissent, to the
governor of the state, and to the stockholders at a general meeting, which they shall have power
to call for that purpose.
8th. The notes or bills obligatory which shall be lawful for the said corporation to issue shall not
be for a less sum than five dollars.
9th. The corporation shall in no case de: al, trade or be concerned in, any thing but notes, bills
of exchange, mortgages, stock of the United States or bullion, except in the case of debts due lo
them, then they shall be fully empowered to take any kind of security which they can obtain; nor
shall the corporation in any case be owners of any ships or vessels, or directly or indirectly be con-
cerned in trade, or the importation or exportation, purchase er sale, of any goods, wares and mer-
chandise, lands and tenements whatsoever, except such ships, vessels, goods, wares, merchandise
lands or tenements, as shall be pledged to them by way of security, or for debts due, owing or
growing due, to the said corporation, or purchased by them to secure such debts due to the said
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CHAP.
XIX.
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