PHILIP F. THOMAS, ESQUIRE, GOVERNOR.

1849.

and cashier, and such officers and servants as may be
necessary for conducting the business of the incorpo-
ration, and to allow to them such compensation for
their services as shall by the directors be deemed
reasonable.

CHAP. 506,

SEC. 13. And be it enacted, That the president and
directors, for the time being, may make all rules, or-

ders, bye-laws and regulations for the government of
said corporation, its officers and servants, as they, or
a majority of them, from time to time, shall think fit,
not inconsistent with law, or the provisions of this
act, and the same at pleasure to reverse, alter and
amend, and may use, employ and dispose of the funds,
money and credits of the said bank, as they or a ma-
jority of them, may deem expedient, subject, how-
ever, to the restrictions and limitations hereinafter
mentioned, and the books, papers, correspondence, and
the funds of the corporation, shall, at all times, be
subject to the inspection of the board of directors.

To make bye-
laws, etc.

SEC. 14. And be it enacted, That the following rules,
restrictions, limitations and provisions shall form and
be the fundamental articles of the constitution of said
corporation, to wit:
First. The number of Votes to which each, stock-
holder shall be entitled, shall be according to the
'number of shares ho, or She shall hold, but no person
or body politic shall be entitled to a greater number
than one hundred votes, and no share or shares shall
confer a right of suffrage which shall not have been
holden two calendar months previous to the day of
election, stockholders actually residents within the
United States, and none other, may vote by proxy, at
elections.
Second. The president and a majority of the direc-
tors shall be residents of Cecil county, and a director of
any other bank shall not be a director of this bank:

Fundamental
articles.

and provided always, that no rule or regulation shall
entitle a director, or other officer, to obtain discounts
on terms different from those prescribed for other per-
sons.
Third. The president and directors, for the time be-
ing, shall give six weeks notice, in all the newspapers
published in said county, of the time and place of
holding the election of directors annually.
Fourth. The president and directors, before he or
they enter upon the duties of his or their offices, shall
take the following oath or affirmation, as the case may
be: I, A, B., do solemnly swear or affirm, that I will

Proviso.