340

LAWS OF MARYLAND.

lawful for this corporation to issue, shall not at any
time exceed double the amount of its capital stock
and no note shall be issued of a less amount or de-
nomination than five dollars, nor of any amount in-
termediate between five and ten dollars; and the Gen-
eral Assembly may at any time restrict the issues of
such notes, both in the amount, which may be issued
and in the denomination of the notes.

Transfers.

SEC. 7. And be it enacted, That the shares of
the capital stock of this bank shall be transferable on
the books of the bank only according to such rules
as shall be established by the President and Directors
but all debts actually due and payable to the bank
by a stockholder, must be satisfied before such trans-
fer shall be made, unless the President and Directors
shall direct to the contrary.

Oath or affir-
mation.

SEC. 8. And be it enacted, That the President,
each Director, Cashier or other officer before he en-
ters upon the duties of his office, shall take the fol-
lowing oath or affirmation as the case may be: I
——— do swear or affirm that I will faithfully, im-
partially, diligently, and honestly execute the duties
of ———— agreeably to the provisions of the law,
and the trust reposed in me, to the best of my skill
and judgment, and every cashier or servant shall be
required to give bond, with two or more securities to
the satisfaction of the President and Directors, in
such sums as they may require for the faithful dis-
charge of his duly.

Discounts.

SEC. 9. And be it enacted, That the President
and a majority of the Directors shall constitute a
Board for the transaction of business, but ordinary
discounts may be made by the president, cashier, and
any two directors, who may be appointed to that
duty, and in case of sickness or necessary absence of
the president, his place may be supplied by a direc-
tor, whom, he, in writing shall nominate for that pur-
pose.

Dividends.

SEC. 10. And be it enacted, That half yearly div-
idends shall be made to the stockholders of so much
of the nett profits of the corporation as shall appear
to the president and directors advisable, and such
dividends shall be declared at such fixed times as the
stockholders shall in general meeting determine, and
shall be paid within thirty days after they are declared;
and if the directors shall at any time wilfully and
knowingly make or declare any dividend which shall
impair the capital stock, all the directors present at