Lightner, John Henry Keene, Jr., H. F. Stickney,
F. A. Hangshes, Thomas McCormick, D. R. Wat-
son, Owen Bouldin, Robert Goldsborough Keene,
John F. Wiley, John Whitelaw, James Pentland,
and whosoever may be now or hereafter associated
with them according to the regulations and by-
laws, by them to be adopted in accordance with
the provisions of this Act, shall be and are hereby
created and made a body politic and corporate by
the name and style of the Baltimore Permanent
Building and Land Society, and as such shall be
capable in law to purchase, hold and dispose of
property, both real and personal, to receive de-
posits and savings, to borrow money and create
loans, for the purpose of advancing upon buildings
and lands, and for such other objects as may pro-
mote the interest of the society, and to insure the
lives of its members and debtors, for the benefit of
the association, whereby the property advanced
upon may be, in case of death, secured to the fami-
ly of the deceased, and for the purpose of enabling
persons of limited means to purchase a home-
stead for their families, the said corporation shall
have power to make, have and use a common seal,
and the same to change, alter and renew at plea-
sure, to sue and be sued, plead and be impleaded,
answer and be answered in any court of law or
equity, to make all deeds, transfer, contracts, con-
veyances and grants whatsoever, and to exercise
all and singular the powers incident to bodies
politic and corporate.

Sec. 2. And be it enacted, That there shall be a
meeting of the said corporation at such a place
and on such a day after the passage of this Act as
the persons above named or a majority of them
shall appoint, and on such a day and at such a
place annually thereafter, as the by-laws may ap-
point, for the purpose of choosing from among the
voting members, twelve Directors to manage the
affairs of the said corporation for one year there-
after, and until a new election shall take place, and
their successors are duly qualified, and the mem-
bers above named or a majority of them shall ap-
point the judges of the first election, and all sub-
sequent elections shall be conducted and the judges
appointed in accordance with the by-laws.

Meetings.