1852.

LAWS of MARYLAND.

CHAP. 294.

Duty of presi-
dent and di-
rectors to
make an an-
nual report,
and have the
same publish-
ed.

SEC. 5. And be it enacted, That it shall be the duty

of the president and directors, to make a report in the
month of January, of each year, setting forth and giv-
ing a full statement of all the real and personal proper-
ty owned or held by said institution, the amount of de-
posits and all other securities held by such institution,
and of all its indebtedness, and cause the same to be
published in some newspaper in Saint Mary's county, for
two successive weeks, and any failure to so report and
publish, shall subject each of said officers to be indi-
vidually liable for the obligations against said institu-
tion, at that time existing, and all that shall be entered
into by such officers, until such report shall be made and
published; and it shall be the duty of the directors, at
least once in every six months, in each and every year,
to make and declare such dividend of the interest and
profits of said institution as wilt not impair the deposits
thereof, or otherwise injuriously affect the interest of
said institution, and the same to pay over unto the
stockholders or their legal representatives, within ten
days thereafter, if called upon.

Transfer of
stock.

SEC. 6. And be it enacted, That no stockholder or
depositor who is debtor to this institution, shall transfer
his stock or deposits until such debt be paid or otherwise
secured to the satisfaction of the directors.

Discounts or
loans.

SEC. 7. And be it enacted, That in all discounts or
loans to be made by said corporation, it shall be gov-
erned in its calculations of interest by Rowlett's table.

Concerns sub-
ject to inspec-
tion by Trea-
surer or other

officer.

SEC. 8. And be it enacted, That the concerns

of the institution hereby intended to be incorporated,
shall at all times be subject to the inspection of the
Treasurer of Maryland, or such other officer or agent

of the State as may be selected for that purpose by
either branch of the Legislature.

Capital stock.

SEC. 9. And be it enacted, That the capital stock

of the said corporation, shall not exceed one hundred
thousand dollars, until an additional capital is autho-
rised by the General Assembly.

Stockholders
and directors
liable.

No officer
shall borrow
money from

corporation.

SEC. 10. And be it enacted, That the stock holders
and directors shall be liable to the amount of their re-
spective share or shares in the corporation created by
this act; and no director or other officer of said cor-
poration, shall borrow any money from said corporation,
and any violation of this provision shall be a forfeiture

of this act of incorporation, and of all rights acquired
by the corporation under and by virtue thereof.

Subject to
provisions of
any general
law of bank-

SEC. 11. And be it enacted, That the corporation
created by this act shall be subject to all the provisions

of any general law for the regulation of banking cor-