486

LAWS OF MARYLAND.

and for the transfer of its stock, for the forfeiture of its stock
not paid and for disposition of the proceeds thereof, and to
provide for all other matters which may be regulated by
by-laws, and generally to do and execute all such acts, matters
and things as a corporation may and can lawfully execute,
and all such matters and things as may be necessary to carry
out the object of said corporation. The office of the corpora-
tion shall be in Montgomery County, Maryland.

Capital stock.

SEC. 2. And be it enacted, That the capital stock of said cor-
poration shall be twenty thousand dollars, divided into four
hundred shares, of the par value of fifty dollars each, and
may be increased from time to time when and as a majority
in interest of the stockholders shall so determine to an amount
not exceeding in all one hundred thousand dollars.

Management
of said
corporation.

SEC. 3. And be it enacted, That the affairs of said corporation
shall be managed by a board of seven directors, a majority of
whom shall be a quorum, who shall be elected by the stock-
holders immediately after the organization of said corporation,
and on the first Tuesday in March annually thereafter. The
directors elected shall hold office until their successors are
elected, and shall be authorized to elect a president and vice-
president from their own number, and also a secretary and
treasurer, and such other officers as they may deem necessary
and proper to conduct the business of the corporation.

May make
copies and
abstracts from
public records,
etc.

SEC. 4. And be it enacted, That said corporation may make
and procure copies and abstracts from the public records of
the State and gather information therefrom and from other
sources relating to conveyances of property, real and lease-
hold, may make and procure and furnish plats and other
matters relating to property, may examine the titles to property
and guarantee or insure owners and mortgagees of property,
real and leasehold, against loss by reason of defective title,

Deal in real
and personal
property.

liens or other encumbrance, and shall have the right to require
by purchase or otherwise, and to hold, manage and dispose of,
or in any way not contrary to law, deal in any property,
real, personal or mixed, which maybe necessary to enable
the corporation to carry on its business or fulfill its powers
and purposes herein named.

Subscriptions
to

capital stock.

SEC. 5. And be it enacted, That the persons named in the
first sections of this Act be and they are hereby appointed
commissioners to receive subscriptions to the capital stock of
said body corporate, and they or a majority of them may
cause books to be opened at such time and place as they may