LEVIN WINDER, ESQ. GOVERNOR.

55

answerable in his person, or individual property, for any
contract or engagement of said company, or for any los-
ses, deficiencies, or failures of the capital stock of the
said company, but the whole of the said capital slock,
together with all property, rights and credits, belonging
to the institution, and nothing more, shall at * times be
answerable for the demands against said company.

DEC. SESS.

1814.

9. AND BE IT ENACTED, That no person shall
be admitted to take his seat as a director unless he shall

be at the time a stockholder.
10. AND BE IT ENACTED, That the president and
directors first chosen, shall hold their scats for twelve
months, and the president and six directors may be re-

elected at the regular annual elections; if the president
shall be chosen out of the number of directors, his place
shall be supplied by the directors from among the stock-
holders; and if a vacancy shall at any time happen among
the directors, by death, resignation, or otherwise, the
directors shall elect a director to fill the vacancy for the
residue of the year from among the stockholders.

Directors must
be stockhold-
ers.

President and
directors — va-
cancies.

11. AND BE IT ENACTED, That in case of sick-
ness, or necessary absence of the president, he shall, in
writing, signify the same to the directors, who shall ap-
point one of the board of directors to act as president pro-
tempore.

President pro-

tem.

12. AND BE IT ENACTED, That the board of
directors for the bridge and bank company, shall have
power to appoint a cashier, and other officers and ser-
vants, for executing the business of the company, and to
allow such compensation for their service, as shall be rea-
sonable. No director shall be entitled to any emolu-
ment unless the same shall have been allowed by the stock-
holders at a general meeting; the directors of the said bridge
and bank company shall make such compensation to the
president for his attendance at the bank as shall appear
to them reasonable.

Cashier, &c.—
compensation.

13. AND BE IT ENACTED, That the board of di-
rectors shall have power to purchase, build, rent or lease
proper buildings for the bank, and to have such houses
fitted up and secured with vaults, &c. at the expense of
the company, at some convenient place as near the bridge
as may be in Cecil county.

Buildings, &c.

14. AND BE IT ENACTED, That the board of di-
rectors and president shall have power to make, revise, al-
ter or annul, rules, orders, by laws and regulations, for
the government of the company, and of their officers,
servants and affairs, as a majority of them shall deem

Rules, orders,
&c.

expedient provided, they are not contrary to law or
the constitution; Provided always, That no rule or
regulation shall entitle the president, or any director, to
obtain discounts on terms different from those prescri-
bed for other persons; and provided also, That neither of

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* in the original bill the word "all" is inserted here.

Proviso.