436

LAWS OF MARYLAND.

shares; the said shares of stock shall be assigna-
ble by transfer, by the holders, in person or by
attorney, in a book to be kept for the purpose, at
the office of the institution and shall be entitled
to dividends of the profits in common with the
weekly depositors, at any general meeting of the
institution for electing directors or for any other
purpose, every member whose weekly deposites
shall have amounted to ten dollars, shall be enti-
tled in person or by proxy, to give one vote for
every share of stock, or its equivalent, which he
or she may hold at the time, to the amount or
value of five shares, and to one vote on every ad-
ditional five shares to the amount or value of not
exceeding one hundred shares in all, and to one
vote for every additional ten shares thereafter to
the amount or value of not exceeding two hun-

Proviso.

dred shares in all; Provided, that no member
shall be entitled to hold at any one time more
than the amount of two hundred shares, in the
funds of the institution, and a majority of all the
votes cast shall be required to elect any officer.

Subject to re-
strictions and
limitations.

SEC. 9. And be it enacted , That the institu-
tion hereby authorised, shall be subject to all
other restrictions and limitations contained in an
act passed at January session, eighteen hundred
and fifty-three, chapter four hundred and forty-
one, entitled, an act to continue the corporate
existence of the several banking institutions there-
in mentioned.

Concerns sub-
ject to inspec-
tion.

SEC. 10. And be it enacted, That the con-
cerns of the institution hereby intended to be
incorporated, shall be at all times subject to the
inspection of the Treasurer of the Western Shore,
or of such other officer or agent of the State as
may be selected for that purpose, by either branch
of the Legislature.

To continue
in force.

SEC. 11. And be it, enacted, That this act shall
be, and continue in force for twenty years, and
until the end of the next session of the General
Assembly that shall happen thereafter.

Directors must
be residents of
the State.

SEC. 12. And be it enacted, That no one shall
become a director or officer of this institution who
is not a citizen of the State of Maryland.

Not to issue
bank note.

SEC. 13. And be it enacted, That a nothing in
this act shall give any authority to said corpora-
tion to issue any note to pass as currency.