76

LAWS OF MARYLAND.

Dec Sess.

1813.

Transfers.

17. AND BE IT ENACTED, That the stock in the
bank of Caroline may be transferred by the holder in
person or by power of attorney at said bank, but all
debts actually due to the company by a stockholder of-
fering to transfer, must be discharged before such trans-
fer shall be made.

Dividends.

18. AND BE IT ENACTED, That dividends of
the profits of the company shall be made at the end of
the first year, and half yearly thereafter; and at the end
of every three years a dividend shall be made of surplus
profits, which dividend shall be payable to the stockhold-
ers at the bank.

Books &c.
to be open

to be inspec-
tion of the di-
rectors. Gen-
eral meetings
of stockhold-
ers.

19. AND BE IT ENACTED, That the books, pa-
pers, correspondence, funds, and every transaction of
the company shall at all times be freely open to the in-
spection of the directors, a majority of whom, or any
number of stockholders not less than thirty, and hold,
ing not less than three hundred shares, may at any time
call a general meeting of the stockholders for objects
relative to the interests of the company, and giving not
less than two months notice thereof, in some one or more
of the public prints in Easton.

Oath or af-

firmation to be
taken by the
president and
directors.

20. AND BE IT ENACTED, That before the presi-
dent and directors shall act as such, they shall take an
oath or affirmation, that they will faithfully, diligently
and honestly, perform the duties of their station, and the,
cashier and book keeper, or clerk shall also take a simi-
lar oath or affirmation, and shall besides give bonds with
security to the satisfaction of the board of directors, for
the faithful discharge of their duties in their several sta-
tions.

Notes offer-
ed for dis-
count.

21. AND BE IT ENACTED, That all notes offered
for discount by any person or persons, shall on the face
thereof, be made negotiable at the Bank of Caroline,
and when the drawer shall not reside in the village of
Denton, such note shall be made payable at the house of
some person in the village aforesaid, and notice given by
the proper servant of the bank at said house, that such
note hath become due, shall be to all intents and purpo-
ses held and considered to be is completely binding on
the drawer and endorsers as if notice had been personally
served on each of them.

Frauds, Rem-
edy.

22. AND BE IT ENACTED, That any director,
officer, or other person holding any share or capital of
the said bank stock, who shall commit any fraud or em-
bezzlement, touching the money or properly of the bank,
shall he liable to be prosecuted in the name of the state.,
by indictment for the same in any court of law in this
state, and upon conviction thereof shall, besides the
remedy that may be had by action in the name of the
president and directors of the Bank of Caroline, for the
fraud aforesaid, forfeit all his share or stock in the
said bank to the company.