LEVIN WINDER, ESQ. GOVERNOR.

67

bank, then they shall be fully justifiable in taking any
kind of security which they can obtain.
16. AND BE IT ENACTED, That ordinary dis-
counts may be made by the president and three directors,

but the president and five directors shall be necessary for
the purpose of transacting the general business of the

company.

DEC. SESS.

1814.
Discounts.

17. AND BE IT ENACTED, That the stock in the
Havre-de Grace bank 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
offering to transfer, must be discharged before such trans-

fer shall be made.

Transfers.

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.

Dividends.

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 interest of the company, and giving not
less than two month's notice thereof in some one of the

public prints in the city of Baltimore.

Books &c.
shall be open
for the inspec-
tion of direc-
tors— general
meetings.

20. AND BE IT ENACTED, That before the pre-
sident and directors shall act as such, they shall take an
oath or affirmation, that they will faithfully, deligently
and honestly perform the duties of their station; and the
cashier, book-keeper and clerks, shall also take a similar
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.

Oath or affir-

mation.

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 Havre-de-Grace bank,
and when the drawer shall not reside in the town of
Havre-de-Grace, such note shall be made payable at the
house of some person in the town 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 purposes, held and considered to be as completely
binding on the drawer and endorsers as if notice had

been personally served on each of them.

Notes to be
made negotia-
able.

23. AND BE IT ENACTED, That any director,
officer, or other person, holding any share or capital

Frauds or em-

bezzlements.