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Dec. Ses. 1817
Transfers.
Dividends.
Books, &c to
be open to the
inspection of
directors.
Oath.
Notes—how
payable.
Fraud.
Subscribers
incorporated.
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19. And be it enacted, That the stock in the Centreville Bank of
Maryland may be transferred by the holder in person, or by pow-
er of attorney, at said bank, but all debts actually due to the com-
pany, by a stockholder offering to transfer, must be discharged be-
fore such transfer shall be made.
20. And be it enacted, That dividends of the profits of the com-
pany 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
stockholders at the bank.
21. And be it enacted, That the hooks, papers, correspondence,
funds, and every transaction of the company, shall at all times be
freely open to the inspection of the directors, a majority of whom,
or any number of stockholders not less than thirty, and holding 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.
22. And be it enacted, That before the president 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 other officers, 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 the duties in their several stations.
23. And he it enacted, That all notes offered for discount by any
person or persons, shall on the face thereof be made negotiable at
the Centreville Bank of Maryland, and when the drawer shall
not reside in the town of Centreville, 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 hank at said house,
that such note hath become due, shall be to all intents and purpo-
ses held and considered to be as completely binding on the drawer
and endorsers as if notice had been personally served on each of
them.
24. 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 embezzlement touching the money or proper-
ty 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 ho
had by action in the name of the president and directors of the
Centreville Bank of Maryland, for the fraud aforesaid, forfeit all
his share or stock in the said bank to the company.
25. And be it enacted, That all persons who shall become sub-
scribers to the said bank, their successors and assigns, shall be
and are hereby made a corporation and body politic, by the name
and style of The President and Directors of the Centreville Bank
of Maryland, and by that name shall be and are hereby made able
and capable in law to sue and be sued, plead and be impleaded, an-
swer and be answered, defend and be defended, in any court of re-
cord, or any other place whatsoever, and also to have, make and
use, a common seal, and the same to break, alter and renew, at
pleasure, and to make, issue and negotiate notes, and generally to
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