434

LAWS OF MARYLAND.

Who are to be
deemed mem-
bers.

SEC. 4. And be it enacted, That every person
or persons who shall be a weekly depositor of said
corporation, and who shall have deposited not less
than one dollar for each week, for the period of
ten weeks shall thereby become a member of said
corporation, and shall have the right to require
and receive from the president thereof or other
officer in their behalf by the by-laws appointed
or designated, a certificate of membership, and the
person so becoming a member, shall so long as
his said amount of deposite shall remain with the
said corporation, be entitled to all the rights and
privileges belonging to a member of said corpora-
tion under the provisions of this act, and under
any by-laws of the said corporation, and the regu-
lar weekly deposites of any member of said cor-
poration, shall in no case exceed the sum of ten
dollars for any one week, and whole amount of
such deposites of any such member shall in no
instance exceed the sum of two thousand dollars ;

Provisos.

And it is hereby provided, that nothing in this act
contained, shall be so construed as to confer au-
thority on the directors or stockholders, by any
rule or by-law, to restrict or limit the number of
weekly depositors who may desire to deposite or
become members of said corporation; Provided
however, that the amount paid in by each deposi-
tor, be not less than one dollar per week, and that
they in all things comply with the provisions of
this act, and the rules and by-laws which may
from time to time be adopted.

May receive
deposits.

SEC. 5. And be it enacted, That the said corpo-
ration shall be capable to receive from any free
person or persons, any deposite or deposites of
money, and to use all money so received in dis-
counting notes, &c., or to invest the same in
public stock or other securities, at the discretion
of the directors, according to the by-laws, and in
such manner as they shall deem most safe and

Proviso.

beneficial; Provided, that no president, director
or officer of the said corporation shall borrow
money from the same, but ordinary dealings of
the institution in the sale and purchase of bills
of exchange, notes of hand or specie, shall not be
considered borrowing, within the meaning of
this act.