94

LAWS OF MARYLAND.

Office for the
transaction or
business loca-
ted.

SEC. 14. And be it enacted, That the office for
the transaction of the business of the company,
shall be located within the following described
limits of the city of Baltimore, viz: North of Pratt
street, east of Howard street, south of Fayette
street, and West of Harrison street.

To keep full
and correct en-
tries.

SEC. 16. And be it enacted, That the President
and Directors shall keep full, fair and correct en-
tries of their transactions, which shall at all times
be open to the inspection of the stockholders ;
they shall annually prepare a full and true state-
ment of the funds, property and securities of the
company, showing the amount in real estate, in
bonds and mortgages, in notes and securities, in
public debt and other stock, the amount of debts
due to and from the company, which statement
shall be certified by the President and Secretary.

Power to pro-
core suitable
building.

SEC. 16. And be it enacted, That the President
and Directors shall have power to hire or pur-
chase a suitable building or buildings within the
limits aforementioned, for the purpose of trans-
acting the affairs of the institution and generally
conducting the business thereof.

Individual pro-
perty not an-
swerable.

SEC. 17. And be it enacted, That no stockholder
or member of this association shall be answerable
in his person or individual property, for any con-
tract or agreement of said association, or for any
losses, deficiency or failures of the capital stock of
this company, but the whole of said capital stock,
together with nil property, rights and credits, be-
longing thereunto, and nothing more shall at any
time be answerable for the demands against said
company.

Stock trans-
ferable.

SEC. 18. And be it enacted, That the stock of
this institution may be assigned and transferred
on the books of the company, in person or by
power of attorney only, but no stockholder in-
debted to the company shall be permitted to make
a transfer or receive a dividend, until such debt is
paid, or secured to the satisfaction of the Presi-
dent and Board of Directors.

Power to ap-
point Secreta-
ry and other
officers.

SEC. 19. And be it enacted, That the President
and Directors shall have power and authority to
appoint a Secretary and such other clerks and
officers under them, as shall be necessary for
transacting the business of said association, and
may allow such salary as they shall judge reason-