60

LAWS OF MARYLAND.

DEC. SESS.

1814.

Choice of di-
rectors.
Vote by ballot.

* 12. AND BE IT ENACTED, That in the choice
of directors, each stockholders shall be allowed the same
number of votes as he has shares.
13. AND BE IT ENACTED, That every person,
in voting for directors shall vote by ballot either in person
or by proxy.

Buildings, &c.

14. AND BE IT ENACTED, That the president and
directors at Salisbury shall be, and they are hereby em-
powered, to provide by lease, the proper buildings and ne-
cessary furniture for the said branch, bat. that no build-
ings shall be purchased for the said branch except by the
Farmers' Bank of Somerset and Worcester.

Qualification
of officers.

15. AND BE IT ENACTED, That the president and
directors of the said branch shall attend to the qualifica-
tion of the officers who shall be appointed, and require of
them bonds agreeably to the nineteenth section of the o-
riginal act to which this is a supplement.

Operation to
commence &c.

16. AND BE IT ENACTED, That the operation of
the branch bank at Salisbury shall commence as soon as
thirty thousand dollars shall be paid in, and the president
and directors of the mother bank shall previously thereto
have stationary and plates for the branch provided, the
notes struck, signed by the president and cashier, and
placed in the Salisbury branch, in order for the insertion
in the body of the note of the name of the president of
the branch bank.

Expences.

17. AND BE IT ENACTED, That the expences ne-
cessarily arising in the establishment of the said branch
shall be paid as they accrue out of the joint profits of said
institution.

Notes to be
made negotia-
ble — Notice,
&c.

18. AND BE IT ENACTED. That all notes offer-
ed for discount at the branch bank aforesaid by any per-
son, shall on the face thereof be made negotiable at the
Farmers' Bank of Somerset and Worcester, and when
the drawer shall not reside in Salisbury, such note shall
be made payable at the house of some person at Salisbu-
ry; and in all cases of notes discounted at the said branch
bank, notice given or left by the proper servant of the
bank at the house where the said discounted note shall be
made payable that such note has become due, shall
be to all intents and purposes hold and considered
to be as completely binding on the drawers and endor-
sers as if notice had been personally served on each of
them.

By-laws, rules
&c.

19. AND BE IT ENACTED, That the president and
directors of the said branch shall form by-laws, rules
and regulations for the government thereof, not incon-
sistent with those of the mother bank, but the same shall
not be acted under until notified by the mother bank.

Persons pay-
ing up shall
receive divi-
dends.

20. AND BE IT ENACTED, That any person who

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* Sections 12 and 13 are stricken out in the original bill, but appear as part
of the engrossed bill. THE PRINTER.