THOMAS H. HICKS, ESQUIRE, GOVERNOR.

267

plement or amendment thereto passed at January
session, eighteen hundred and fifty-four, chapter
one hundred and fifty-two, and any other supple-
ment or amendment thereto which has been here-
tofore or may hereafter be passed.

SEC. 2. And be it enacted, That the aforenamed
commissioners, or a majority of them, shall ap-
point the time and place of receiving subscrip-
tions to the capital stock of said bank and give
notice thereof in the various newspapers printed in
the city of Cumberland, and at the time and place
so appointed shall proceed to receive such sub-
scriptions, and as soon as fifty thousand dollars
of said capital stock shall have been subscribed
and paid for in gold or silver currency, and not
before, the said bank shall be authorised to go
into operation, and a meeting of the said sub-
scribers shall then be held for the purpose of
electing a president and board of directors of said
bank, and of adopting rules, orders, by-laws and
regulations for the government of said bank, its
officers and agents, and said by-laws shall fix the
number of directors to be elected for said bank,
and also the times at which future elections shall
be held, and all such by-laws shall be subject to
alteration, amendment and repeal at any and all
future meetings of the stockholders of said bank ;

Authorised to
receive sub-
scriptions.

Provided however, that all such by-laws, rules
and regulations which the said stockholders are
hereby authorised to adopt and establish, shall
conform to and be consistent with the provisions
of this act and the laws of this State; And pro-
vided further, that three-fifths of the capital
stock of said bank shall be always held and
owned by bona fide residents of the State of Mary-
land, and the last transfer, subscription or assign-
ment whereby the amount of capital stock in the
hands or names of non-residents of this State
would be increased in the aggregate to more than
three-fifths of the whole capital stock of said
bank issued or subscribed, shall be inoperative
and void, and before any person or persons shall
be suffered to vote any stock of said bank at any
stockholders' meeting, either for the election of
directors or for any other purpose, he, she or they
shall, if required by any stockholder or director,
make oath or affirmation before a justice of the

Proviso.