PHILIP P. THOMAS, ESQUIRE, GOVERNOR.

1349.

company by a stockholder offering to transfer, must be
discharged before such transfer shall be made.

CHAP. 246.

SEC. 18. And be it enacted, That the dividends of
the profits of the company shall be made at the end of
the first year and half yearly thereafter, and at the end
of every three years a dividend shall be made of sur-
plus profits, which dividend shall be payable to the
stockholders at the bank.

Dividends, etc.

SEC. 19. And be it enacted, That the books, papers,
correspondence, funds and every transaction of the com-
pany shall at all times be freely open to the inspection
of the directors, a majority of whom, or any number of
stockholders not less than thirty and holding not. less
than three hundred shares, may at any time call a gen-
eral meeting of the stockholders for objects relating to
the general interest of the company and giving not, less
than two months notice thereof in some newspaper
printed and published in Kent county.

Books, etc., to
be open to the
inspection of
directors.

SEC. 20. And be it enacted, That before the president
and directors shall act as such, they shall take an oath
or affirmation, that they will faithfully, diligently, and
honestly perform the duties of their stations, and the
cashier, book-keeper, and clerks shall also take similar
oaths or affirmations, and shall besides, give bonds,
with security to the satisfaction of the board of directors,
for the faithful discharge of the duties of their several
stations.

Oath required.

SEC. 21. And be it enacted, That all notes offered
far discount by any person or persons, shall on the face
thereof, be made negotiable at the Farmers and Me-
chanic's Bank of Kent county, and when the drawer
shall not reside in the town of Chestertown, such note
shall be made payable at the house of some person in
the town aforesaid, and notice given by the proper of-
ficers of the bank at said house, that such note hath be-
come due, shall be to all intents and purposes held and
considered to be completely binding on the drawer and
endorsers, as if notice had been personally served on each
of them.

Notes, etc., to
be made nego-
tiable at Bank.

SEC. 22. And be it enacted, That any director, of-
ficer or other person, holding any share or capital of the
said bank, who shall commit any fraud or embezzle-
ment, touching the money or properly of the bank, shall
be liable to be prosecuted in the name of the State by
indictment for the same in any court of law of this State
having jurisdiction thereof, and upon conviction thereof
shall besides the remedy that may be had by action in
the name of the president and directors of the Farmers
and Mechanic's Bank of Kent county, for the fraud

Penalty for
fraud, etc.