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those who have actually subscribed previously thereto,
shall be entitled to stock in the said bank; within
twenty days after closing the books, the commission-
ers aforesaid shall meet in joint meeting either at the
town of Princess-Anne aforesaid, or the town of Snow-
Hill, as shall have been previously appointed by a ma-
jority of them; at which meeting, the said commission-
ers or a majority of them, shall determine whether
Princess-Anne or Snow-Hill shall be the place where
the said bank shall be fixed; and if a majority of said
commissioners cannot agree upon the place where the
bank shall be held, they shall determine the same by lot
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1812.
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3. AND BE IT ENACTED, That every sub-
scriber shall pay to the commissioners who shall attend
for opening books in either county, at the time of sub-
scription for the same, two dollars and fifty cents on
each share; and each subscriber shall, within sixty
days, pay the further sum of seven dollars and fifty
cents, on each share, to the commissioners of the coun-
ty in which it shall have been determined to fix the said
bank; and at the expiration of every sixty days there-
after, the further sum of five dollars on each share, to
the directors of the said bank, until the sum of twen--
ty-five dollars shall be paid on each share; but any
person who may find it convenient, may, at the time
of paying his third or fourth instalment, pay up
his shares to the amount of twenty five dollars oil
each share, and shall receive a dividend according-
ly; and the remaining seventy-five dollars on each
share shall be paid by such instalments and at such
times as the directors shall appoint, upon giving not
less than three months notice of such demand in the
most public places in the counties aforesaid, and in
some public print in Easton or Baltimore. Receipts
shall be given by the commissioners or directors (as
the case may be) for the several payments herein
provided to be made; but when a subscriber shall
have paid the sum of twenty five dollars on each share,
such subscriber shall be entitled to receive certificates,
under the seal of the bank, and subscribed by the pre-
sident, for the shares by him or her held.
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Stock-holders
neglecting to
pay instalments
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4. AND BE IT ENACTED, That if any stock-
holder shall fail to pay his or her instalment to the
amount of ten dollars on each, share at the times and
in the manner before specified, such stock-holder shall
forfeit for the use of the company, ail monies paid ante-
cedently to such default; but no forfeiture shall take
place after ten dollars on each share shall have been
paid. But as it is requisite that means shall be taken
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Instalments--
when to be
paid.
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