Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1870-06-09

LAWH-GENHRAL.
any Of said eorporasicns may be changed
By. the stockholders from time ia zine,
utthiu he limits . 10 nuvaber aforesaid,
and no person shall be . Director in aay
q the said corporations Who IL not =
'sedek ekholder thereof, snd Who l. nek slsc
a!sitiisp Of the Ssaas Of Maryland.
{ .fst7 And bs e snnu66a. fAss che
pIes. ssstrictions. limlsasions
sn4 pFosis!oas. shan form .sud be fuuda-
mental Articles ofvAe cvuss;Aniioa o(csch
Of the said corporations. namely:
ARTICLE
Every stockholder shall be entitled to
one vote for every share which he. she,
il or they may hold TO the number Of no.
exceeding ten shares. and to one vote for
every additional two shares to the num-
her Of not exceeding one hundred shares
in all. and to one vote for every addition
al Eve shares hereafter. but no share OF
stock shall enti;le any holder to a vote
which shall not have been holden four
calendar months previous to the day Of
election, and stockholders actually resi-
dent within the United States, and none
others may vote at elections by proxy.
ARTICLE II.
None but stockholler, being citi.
zen of this State, shall be eligible as a
Director or President, and every Press
ident or Director, as the case msy b.,
shall cease to be Director or President
upon his ceasing to be . citizen Of this
State, or stockholder.
ARTICLE III.
NJ Director Of any one Of the said cor
porations shall be at the same time Di-
rector cf any other bank in this State,
and once in each year the Directors shall
lay before the stockholders Of each OF
s,id corporations. at general meeting
for their information, an exact and par
ticular statement Of the debts which shall
have remained unpaid after the expira-
tion of the original credit. and the sur
plus profits. if any, after deducting losse:
and dividends.
ARTICLE ".
The Treasurer Of this State shall bc
furnished with statements Of the amoun
of the capital stock Of the corporation. and
of the debts due to and from the same
specifying those due to aSd from ohe,
i hanks of the mnncyS d.E -isai -s~r =
OF the notes in circulation, Of the cash on
hand, specifying the amounts ofcor, anc
of the notes of other banks, of the value
Of the real estate held BY the corporation
and of the amount and value OF public o.
other stocks owned by the corporation
said statement to be furnished twice il
each year. and to show the condition o
the corporation in the said particula } al
they may appear at the close Of the tusi
ness transactions of the day in set,lemen
thereof, on the FIRST Monday of Januar,
and the first Monday of July, and eacl
of the said corporations shall publish salt
statement so made to the Treasurer, in a
least one Of the daily newspapers publisi
cd in the City Of B,ltimore, if the corpo
ration be located in said city. or in news
paper published in the county in whicI
the corporation may be located If not lo
Gated in said city. said statements in nj
clses to be verified by the oath or afhr
nation Of the President or Cashier of th
corporation.
ARTICLE v.
The issues or notes, usually denomins
ted bank notes. which it shall be Lawful
for the corporation to issue, shall not a
any time exceed the amount OF It's capita
stock actually paid in, and no note shal
he issued Of less amount or denomina
intermediate between five and ten dollar.
and the General Assembly may at an
time restrict the issue Of such notes, bn.
i'm the amount which may be issued and
the denomination Of the notes.
ARTICLE VI.
The President, each Director, Cashie
and Treasurer. before hp enters upon N
duties of his offi,e, shall take the follow
ing oath or atf nation, as the case ma
be: "I do swear or affirm. that
will faithfully, impartially. diligently an
honestly execute the duties Of sgre,
ably to the provisions of law and the tru.
!, imposed in me. to the best OF my skill an
judgment"
ARTICLE VII.
The totsi amount OF the debts whicI
any Of the said corporations shall at au
time owe, EXCLUSIVE of its issues or notes
usually denominated b,nk notes, whsthe
by bond. bill. note or other contract. shaI
not exceed the amount of capit,l stock ar
.ually paid into the said bauk provided
that the money deposited in the said ban
Tor safe.keepiny. shall no, be ccnsiiere
as the debts If the bank within the pr,
, visions Of this clause, unless the contraci
ing Of greater deb, shall have been pr,
vieusly authorized by law of this Stat,
; and in cases of excess, the Directors ur
der whose administration il shall haope,
shall he liable for the same in their na.r
raj and private capacities. and an actic
u.ay in such cases be brough. again
them, or any Of them. or their heirs, G,
ecutors, administrators. in any Court
Record in this S'sse By any creditor
creditors of said ecrporaiion. and may
. prosecuted to judgment and execute,
: any condition. covenant Or agreement
the contrary Notwithstanding. bu. not
/ ing herein contained shall Be construed
{ exempt the said corporation, or sAe Land