T. WATKINS LIGON, ESQUIRE, GOVERNOR.

45

of any depositor or member; and it shall be the du-
ty of the Directors, on the first Monday of January
and on the first Monday of July in each and every
year, to make and declare such dividends of the prof-
its as shall have been made by the investments here-
in before provided for, after paying the expenses of
said institution, and the same to pay over to the mem-
bers, or their legal representatives, within ten days
thereafter, if called upon.

SEC. 6. And be it enacted, That no stockholder
or depositor, who may be debtor to this institution,
shall transfer his stock or deposites until such debts
be paid or otherwise secured to the satisfaction of the
Directors.

Stock not to
be transferred.

SEC. 7. And be it enacted, That the business and
affairs of the institution hereby intended to be incor-
porated shall be at all times subject to the inspection
of the Treasurer of Maryland, or such other officer
or agents of the State as may be selected for that
purpose by either branch of the Legislature.

2 Subject to in-
spection of
Treasurer.

SEC. 8. And be it enacted, That the capital stock
of the said corporation shall not exceed one hundred
thousand dollars, until an additional capital is au-
thorised by the General Assembly.

Capital stock.

SEC. 9. And be it enacted, That the stockholders
and directors shall be liable, to the amount of their
respective share or shares of stock, for all the debts
and liabilities of the corporation hereby created,
whether upon note, bill, or otherwise, and no Direc-
tor or other officer of said corporation shall borrow
any money from said corporation.

Stockholders
and Directors
liable.

SEC. 10. And be it enacted, That the General As-
sembly expressly reserves the right to alter or repeal
this act or any part thereof at pleasure.

Reservation!