LEVIN WINDER, ESQ. GOVERNOR.

203

15. AND BE IT ENACTED, That the com-
missioners aforesaid, shall immediately provide in
the said city of Baltimore, a proper house for carry-
ing on the business of the Bank, together with all
necessary paper, stationary, vaults and utensils, suit-
able to the same, so that as soon as the directors are
chosen, the operations of the Bank may be immedi-
ately and without loss of time, entered upon and car-
ried into effect.

1812.

Banking-
house and
utensils to be
procured.

16. AND BE IT ENACTED, That if any stock-
holder shall fail to pay on his or her stock such instal-
ment or instalments as may be demanded or required
in manner aforesaid, the dividend or dividends there-
after to be paid to such stock-holder, (as well upon
the money by him or her regularly paid, as upon the
money paid after default, ) shall be calculated only
from the time when such last mentioned instalment
shall be made good.

Defaulters in
payment for
stock.

17. AND BE IT ENACTED, That no subscri-
ber or stock holder, or member of the said company,
shall be answerable in his person or individual pro-
perty for any contract or engagement of said com-
pany, or for any losses, deficiencies or failures of the
capital stock of said company, but the whole of the
said capital stock, together with all property, rights
and credits belonging to the said institution, and
nothing more, shall at all times be answerable for
the demands against the said company.

Personal or
individual pro-,
perty shall
not be answer-
able for con-
tracts, fee.

18. AND BE IT ENACTED, That whenever
the State shall have become a stock-holder to the
amount of forty thousand dollars, she shall be enti-
tled to appoint two directors, and when the State
shall be a stock-holder to the amount of one hundred
thousand dollars, she shall be entitled to three direc-
tors, and the election of said directors shall be made
by joint ballot of both houses during the session of
the General Assembly at which such investment
shall be made or directed to be made, and annually
thereafter.

State direc-
tors — how to
be elected.

19. AND BE IT ENACTED, That the direc-
tors for the time being, shall have power to appoint a
Cashier and such other officers and servants under
them as may be necessary for executing the business
of the said corporation, and to allow to them and to
the president, such compensation for their services
respectively, as shall by them be deemed reasonable.

Directors may
appoint a cash-
ier and other
officers.

20. AND BE IT ENACTED, That the presi-
dent and directors for the time being, may make all
such rules, orders, by-laws and regulations for the

Rules, orders,
&c.