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at any time apply to the president and directors to
call a general meeting of the stock-holders for any
purpose relative to the institution, and if the presi-
dent and directors shall refuse to call such meeting,
the said number of stock-holders, proprietors of not
less than the aforesaid number of shares, shall have
power to call a general meeting of the stock-holders,
giving at least sixty days notice in two or more
news papers printed in the city of Baltimore, one in
the city of Annapolis, one in George-Town, one in
Frederick-Town, one in Hager's-Town, and one in
Easton, and specifying in such notice, the object or
objects of such meeting.
10. The dividends or the profits of the corporation
or so much of the said profits as shall be deemed ex-
pedient and proper, shall be declared half yearly du-
ring the months of August and March, and be paid
in the months of September and April in every year-
and shall from time to time, be determined by a ma-
jority of the directors, at a meeting to be held for
that purpose, and shall in no case exceed the amount
of the nett profits actually acquired by the corpora-
tion, so that the capital stock of the corporation
shall never be impaired by dividends; and at the ex-
ipiration of every three years a dividend of surplus
profits shall be made; but the directors shall then be
at liberty to retain at least one per cent, upon the
capital for the time being, as a fund for future con-
tingencies.
11. It shall be the duty of the cashier to
cause a correct statement of all surplus profits re-
maining in the Bank, not divided among the stock-
holders antecedent to each annual election, to be
made out and kept in the Bank for the inspection of
stock-holders, between the times of such dividends
being declared and each annual election; if the di-
rectors shall at any time wilfully and knowingly
make or declare any dividend which shall impair the
capital stock, all the directors present at the making
or declaring such dividend and consenting thereto,
shall be liable in their individual capacities to the cor-
poration for the amount or proportion of the said
capital stock so divided by the directors; and each
director who shall be present at the making or declar-
ing of such dividend, shall be deemed to have con-
sented thereto, unless he shall immediately enter his
dissent in writing, on the minutes of the proceedings
of the board, or give public notice to the stock-hold-
ers that such dividend has been declared.
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1812.
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