JOHN WALTER SMITH, ESQ., GOVERNOR.

417

WHEREAS, The Cumberland Savings Bank of Cumberland,
Maryland, was duly incorporated under the General Laws of
Maryland, authorizing the formation of savings institutions
for the purpose of conducting a savings bank in the City of
Cumberland, with a capital stock of twenty-five thousand
dollars, divided into five hundred shares, according to the
certificate of incorporation, approved July 5, 1899, and duly
recorded in the office of the Clerk of the Circuit Court for
Allegany County among the records of Certificates of Incor-
poration in Liber T. L. No. 3; folio 101, and,

Cumberland
Savings Bank.

WHEREAS, The said bank is now and has for some time
been conducting a savings bank in said city, and

WHEREAS, It is the wish of the directors and stockholders
of said bank that its corporate powers be increased and
enlarged, and its charter amended, so as to enable said bank
to engage in, carry on, and conduct in said city a general
banking business; now, therefore

Preamble.

SECTION i. Be it enacted by the General Assembly of Mary-
land, That the said Cumberland Savings Bank be and it is
hereby authorized and empowered to borrow money, receive
money on deposit and pay interest thereon, and to loan money
or to discount in accordance with bank usage, taking such
security therefor, either real or personal, as the board of
directors of said bank may deem sufficient; to buy and sell
bills of exchange, notes, bonds and other securities; to make
such special regulations in reference to special or other
deposits as the board of directors may think advisable; to
purchase and hold such real and personal estate and property
as may be necessary for the accommodation and transaction
of its business; to issue notes of credit and other commercial
obligations, and generally to do and transact a general bank-
ing business.

SEC. 2. And be it enacted, That the said corporation shall be
subject to the provisions of Chapter one hundred and nine of
the Acts of the General Assembly of eighteen hundred and
ninety-two, as amended by Chapter one hundred and sixty
of the Acts of the General Assembly of eighteen hundred and
ninety -six, and to all general laws applicable to companies or
associations of a character similar to that named in this Act.

Authority to
do a general
banking
business.

SEC. 3. And be it further enacted, That the stockholders
of said Cumberland Savings Bank shall be liable to the
amount of their respective share or shares of stock in the said
bank for all its debts and liabilities upon note, bill or
otherwise.

Liability of
Stockholders.