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CHAP. 308.
Fundamental
articles.
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may call a general meeting of the stockholders for and
purpose relative to the institution, giving at least six
weeks notice in two newspapers printed in Washington
county and in two daily newspapers printed in the city of
Baltimore, specifying in such notice the object or objects
of such meeting, and any number of stockholders not
less than thirty, who together shall he proprietors of not
less than five hundred shares, may at any time apply to
the president and directors to call a general meeting of
the stockholders for any purpose relative to the institu-
tion, and if the president and directors shall refuse to
call such meeting, the said number of stockholders pro-
prietors of not less than the aforesaid number of shares
shall have power to call a general meeting of the stock-
holders, giving at least six days notice in two newspa-
pers printed in Washington county and in two daily
newspapers printed in the city of Baltimore, and spe-
cifying in such notice the object or objects of such
meeting: Article eighteenth, the dividend of the profits of
the said corporation or of so much of the said profits as
shall be deemed expedient and proper to divide, shall be
declared half-yearly in the months of May and November,
and payable in the months of June and December in
every year, as shall from time to time be determined by
a majority of the directors at a meeting to be held for
that purpose, and shall in no case exceed the nett profits
actually acquired by the corporation, so that the capital
stock of the company shall never be impaired by di-
vidends, and at the expiration of every three years a di-
vidend of surplus profits shall be made, but the directors
shall then be at liberty to retain at least one per centum
for the time being as a fund for future contingencies, it
shall be the duty of the president to cause a correct state-
ment of all the surplus profits remaining in the bank,
not divided among the stockholders antecedent to the
annual election, to be made out and kept in the bank for
the inspection of stockholders between the time of such
dividends being declared at each annual election: Arti-
cle nineteenth, if the directors shall willfully or know-
ingly make or declare any dividend which shall impair
the capital stock, all the directors present at the making
or declaring such dividend and consenting thereto shall
be liable, in their individual capacities to the corporation
for the amount or proportion of said capital stock so di-
vided by the directors, and each director who shall be
present at the making or declaring such dividend shall
be deemed to have consented thereto unless he shall
immediately enter his dissent to in writing on the min-
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