598

LAWS OF MARYLAND.

in person or by proxy, according to the number of
shares held, and all elections for directors shall
be by ballot.

Repealed.

SEC. 5. And be it enacted, That the fifth sec-
tion of said original act of incorporation, passed
January session, eighteen hundred and fifty-six,
chapter thirty-three, be and the same is hereby
repealed, and in lieu thereof, that the president
and directors of said bank, furnish to the Treasu-
rer of this State, on the first Monday of January,
and the first Monday of July, in each year, such
statements as are required of similar banking in-
stitutions, and subject to such regulations as are
prescribed in the act passed January session, eigh-
teen hundred and fifty-three, chapter four hundred
and forty-one, section four, article four.

Directors au-
thorised to de-

clare dividends.

SEC. 6. And be it enacted, That the board of
directors of said bank, shall have power and are
hereby authorised to declare such dividends
among the stockholders of said bank every six
months, as the profits of the said bank will allow,
and the same to pay over to the stockholders or
their legal representatives, within ten days after
declaring such dividends, if called on.

Repealed.

SEC. 7. And be it enacted, That the eighth sec-
tion of said original act of corporation, passed
January session, eighteen hundred and fifty-six,
chapter thirty-three, be and the same is hereby
repealed, and in lieu thereof, that the capital stock
of said corporation, shall not exceed fifty thousand
dollars, until an additional capital is authorised
by the General Assembly.

In force.

SEC. 8. And be it enacted, That this act shall
take effect from its passage.