T. WATKINS LIGON, ESQUIRE, GOVERNOR.

341

the making or declaring such dividend and consent-
ing thereto shall be liable in their individual capaci-
ties to the corporation 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
declaring of such dividend shall be deemed to have
consented thereto unless he shall immediately enter
his dissent in writing on the minutes of the proceed-
ings of the board and give public notice to the stock-
holders that such dividend has been declared.

SEC. 11. And be it enacted, That the president
of the corporation and the directors may at any time
call a meeting of its stockholders for any purpose
relative to the interests of the institution giving at
least six weeks notice in one or more daily newspa-
pers printed in the city of Baltimore, and any number
of stockholders owning a majority of the stock of
the corporation may apply to the said president and
directors to call a general meeting of the stockholders
and if the president and directors shall refuse to call
such meeting the said stockholders, proprietors of a
majority of the stock, shall have power to call a
general meeting of the stockholders, giving notice as
aforesaid and specifying in such notice the objects of
such meeting.

Meetings.

SEC. 12. And be it enacted, That the land, tene-
ments, and hereditaments, which it shall be lawful for
the said corporation to hold, shall be only such as
shall be requisite for its immediate accommodation
in relation to the convenient transaction of its busi-
ness, and such as shall have been bona fide mortga-
ged or conveyed to it by way of security or in sat-
isfaction of debts contracted in the course of its
dealings or purchase at sale upon judgment, which
shall have been obtained for such debts.

Lawful to
hold.

SEC. 13. And be it enacted. That on the first Mon-
day of January annually this corporation shall pay
or cause to be paid to the Treasurer of the State of
Maryland the sum of twenty cents on every hundred
dollars of the capital stock of said corporation then
actually paid in, to be applied by the said Treasurer
in augmentation of the free school fund of this State.

Corporation
to pay to trea-
surer of the
State.

SEC. 14. And be it enacted, That the stockholders
and directors of this bank shall be liable to the amount
of their respective interests or shares for all its debts
and liabilities and that no director or officer of said
bank shall borrow money from the same, provided
that ordinary dealings of the bank in the sale and

Stockholders
liable.