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Session Laws, 1812
Volume 618, Page 204   View pdf image
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204

LAWS OF MARYLAND Nov. SESS. 1812.

1812.

government of the 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
revise, alter and annul; and may use, employ and
dispose of the funds, money and credits of the said
Bank, as they or a majority of them may deem ex-
pedient, subject however, to the restrictions and
limitations hereinafter mentioned; and the books,
papers, correspondence and funds of the corporation
shall at all times be subject to the inspection of the
directors.

Fundamental
articles of the
constitution.

21. AND BE IT ENACTED, Thai the follow-
ing rules, restrictions, limitations and provisions,
shall form and be the fundamental articles of the
constitution of the said corporation, to wit: The
number of votes to which each stock-holder shall be
entitled, shall be according to the number of shares
he shall hold, in proportions following, that is to say:
For one share, and not more than two shares, one
vote each; for every two shares above two, and not
exceeding ten, one vote; for every four shares above
ten, and not exceeding thirty, one vote; for every
six shares above thirty, and not exceeding sixty,
one vote; for every eight shares above sixty, and
not exceeding one hundred, one vote; and for
every ten shares above that number, one vote; but
no person or persons, or body politic shall be en-
titled to a greater number than fifty votes, and
no share or shares shall confer a right of suf-
frage which shall not have been holden four
calender months previous to the day of election;
all stock-holders except females living in the city of
Baltimore, or within five miles thereof, shall vote in
the choice of directors by ballot in person; but every
stock-holder living more than five miles from the said
city, and every female stock-holder, may vote in per-
son or by a written ballot, by him or her subscribed,
with his or her name, and said ballot shall be sealed
up, and addressed to the cashier of the Bank, and
being transmitted before the time of the election,
shall be received and counted in the election; no per-
son who is not a citizen of the United States shall be
entitled to vote in any election of this corporation;
none but a stock-holder shall be eligible as a direc-
tor, except in the case of directors chosen by the
State; no director of any other Bank, nor any person
who is a partner in trade with a director of any Bank
shall be a director in this Bank; and the president



 
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Session Laws, 1812
Volume 618, Page 204   View pdf image
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