Congress; and all sums required by the charters of said institutions and banks to be paid to the State shall continue, as heretofore, to be paid. 1888, art. 11, sec. 15. 1865, ch. 144, sec. 4. 17. Whenever any bank, savings institution or savings bank in this State shall have surrendered its charter, and become an association for the purpose of banking under the laws of the United States, all its assets, real and personal, without other transfer, shall vest in and become the property of such association, and said association shall be responsible for all the debts and liabilities of said bank, savings institution or savings bank, incurred prior to the surrender of its charter. Ibid. sec. 16. 1865, ch. 144, sec. 5. 18. Whenever the charter of any bank, savings institution or savings bank, in the State, has been surrendered, as hereinbefore provided for, the members of the board of directors, last in office, shall forthwith deliver up all the plates and dies of said bank, savings institution or savings bank, to the superior court of Baltimore.city, when said bank, savings institution or savings bank is located in that city, or to the circuit court for the county in which said bank, savings institution or savings bank may be located; and the judge of each of said courts shall cause the said plates and dies to be destroyed in his presence, and also in the presence of the president or cashier of said bank, savings institution or savings bank; and the members of board of directors, who wilfully refuse or neglect so to do, shall be deemed guilty of a misdemeanor, and on conviction shall be severally punished by a fine not exceeding five hundred dollars. Ibid. sec. 17. 1870, ch. 206, sec. 1. 19. Associations for carrying on the business of banking may be formed by any number of persons, not less in any case than five, who shall enter into articles of association which shall specify, in general terms, the object for which the association is formed, and may contain any other provisions not inconsistent with the provisions of this Article, which the association may see fit to adopt for the regulation of the business of the association and the conduct of its affairs; and the president and cashier elect of any existing bank in the State of Maryland, established either under the laws of this State or of the United States, together with any five directors thereof elect, are hereby appointed commissioners, with authority to establish a banking institution in their present locality, or any other within the State, and under their present style, so modified, however, by omitting the word "National" where now existing, as to represent a State institution, and when deemed necessary or advisable, to adopt a new style altogether. 1888, art. 11, sec. 18. 1870, ch. 206, sec. 2. 20. The said institution, under the name and style adopted, is hereby made able and capable in law to sue and be sued, plead and be impleaded, answer and be answered, defend and be defended, in courts of record or any other place whatsoever; to make, have and use a common seal, and the same to break, alter and renew, at its pleasure, and generally to do and execute all and singular such acts, matters and things as a corporation or body politic may and can lawfully execute. Ibid. sec. 19. 1870, ch. 206, sec. 3. 21. The capital stock of said corporation, when located in the city of Baltimore, shall consist of not less than three hundred thousand dollars, divided into shares of one hundred dollars each, with the privilege of so increasing, from time to time, the number of shares to, in all twenty thousand, thus making the entire capital stock two million dollars; and when three hundred thousand dollars of said capital stock shall have been full paid, in the lawful money of the United States, and shall be so certified by a majority of the said commissioners or directors, to the treasurer and comptroller of the State, and a certificate of their organization be transmitted to the clerk of the court of appeals, to be by him recorded among the records of his office, and not before, shall such corporation be entitled to all the benefits and privileges herein conferred or intended to be conferred. 22. The capital stock of said corporation, when located elsewhere than in the city of Baltimore, shall consist of not less than fifty thousand dollars, divided into shares of one hundred dollars each, with the privilege of so increasing, from time to time, the number of shares to, in all five thousand, thus making the entire capital stock five hundred thousand dollars; and when fifty thousand dollars of said capital stock shall have been full paid, in the lawful money of the United States, and shall be so certified by a majority of the said commissioners or directors, to the treasurer and comptroller of the State, and a certificate of their organization be transmitted to the clerk of the court of appeals, to be by him recorded among the records of his office, and not before, shall such corporation be entitled to all the benefits and privileges herein conferred or intended to be conferred. 1888, art. 11, sec. 21. 1870, ch. 206, sec. 5. 23. The said commissioners, or a majority of them, shall be, and are hereby constituted a board of directors to manage the affairs of the said corporation until the second Monday of July ensuing its organization under this Article, and until successors shall be chosen; and in case it shall at any time happen that an election of directors, or appointment of presiIdent of the said bank shall not be made so as to take effect on any day when in pursuance of law the same should take effect, the corporation shall not for that cause be deemed to be dissolved, but it shall be lawful at any time within thirty days thereafter, to make such election and appointment in such manner as shall be directed and provided by the ordinances of the bank; and in case of the death, resignation, removal out of the State, or other disqualification of any director, or of the president of the said bank, the vacancy thereby occasioned may be filled by the directors for the time being electing a director, or appointing a president, as the case may be, for the balance of the time. Ibid. sec. 22. 1870, ch. 206, sec. 6. 24. The affairs of the several corporations herein provided for shall be managed by a president and directors in each of said corporations, and the number of directors in any of the said corporations shall not be greater than seven, nor less than five; and the number of directors in any of said corporations may be changed by the stockholders from time to time, within the limits as to number aforesaid; and no person shall be a director in any of the said corporations who is not a stockholder thereof, and who is not also a citizen of the State of Maryland. 1888, art. 11, sec. 23. 1870, ch. 206, sec. 7. 25. The following rules, restrictions, limitations and provisions shall form and be fundamental articles of the constitution of each of the said corporations, namely: Article 1. Every stockholder shall be entitled to one vote for every share which he may hold to the number of not exceeding ten shares, and to one vote for every additional two shares, to the number of not exceeding one hundred shares in all, and to one vote for every additional five shares thereafter; but no share of stock which shall not have been held four calendar months previous to the day of election shall entitle any holder to a vote; and stockholders actually resident within the United States, and none others, may vote at elections by proxy. Art. 2. None but a stockholder, being a citizen of this State, shall be eligible as a director or president; and every president or director, as the case may be, shall cease to be a director or president upon his ceasing to be a citizen of this State, or stockholder. Art. 3. No director of any one of the said corporations shall be at the same time a director of any other bank in this State; and once in each year the directors shall lay before the stockholders of each of said corporations, at a general meeting, for their information, an exact and particular statement of the debts which shall have remained unpaid after the expiration of the original credit and the surplus profits, if any, after deducting losses and dividends. Art. 4. The treasurer of this State shall be furnished with statements of the amount of the capital stock of the corpora tion, and of the debts due to and from the same, specifying tbose due to and from other banks, of the moneys deposited therein, of the notes in circulation, of the cash on hand, specifying the amounts of coin, and 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 or other stocks owned by the corporation, said statement to be furnished twice in each year, and to show the condition of the corporation in the said particulars, as the same shall appear at the close of the business transaction of the day in settlement thereof, on the first Monday of January and the first Monday of July; and each of the said corporations shall publish said statement so made to the treasurer, in at least one of the daily newspapers published in the city of Baltimore, if the corporation be located in said city, or in a newspaper published in the county in which the corporation may be located, if not located in said city; said statements in all cases to be verified by the oath, or affirmation, of the president or cashier of the corporation. Art. 5. The issues or notes, usually denominated bank notes, which it shall be lawful for the corporation to issue, shall not at any time exceed the amount of its capital stock actually paid in, and no note shall be issued of a less amount or denomination than five dollars, nor of any amount intermediate between five and ten dollars; and the General Assembly may at any time restrict the issue of such notes, both in the amount which may be issued and in the denomination of the notes. Art. 6. The president, each director, cashier, and treasurer, before he enters upon the duties of his office, shall take the following oath or affirmation, as the case may be: I,—, do swear or affirm, that I will faithfully, impartially, diligently and honestly execute the duties of- -agreeably to the provisions of law and the trust imposed in me, to the best of my skill and judgment. Art. 7. The total amount of the debts which any of the said corporations shall at any time owe, exclusive of its issues, or notes usually denominated bank notes, whether by bond, bill, note or other contract, shall not exceed the amount of capital actually paid into the said bank; provided, that the money |