a common seal, and the same at pleasure to alter,
change and renew and generally to do aught else
necessary to effect the provisions of this Act.

Notice of
meeting.

Sec. 2. And be it enacted, That there shall be a
meeting of the members of paid corporation on
such day and such place as the several persons
above named, or a majority of them, shall appoint,
of which meeting they shall give at least ten days
notice in some newspaper printed and published
in the city of Baltimore, and on such day annu-
ally thereafter and at such place as the by-laws of
said corporation shall provide for the purpose of
choosing from among the stockholders five Direct-
ors to manage the affairs of said corporation for
one year thereafter and until a new election of

Proviso.

Directors shall have taken place; provided, that
such election shall take place within one month
from the expiration of the time for which the pre-
ceding Directors shall have been elected, and the
two members first above named or upon their re-
fusal or neglect to act any two named in this Act
shall be the judges of the first election of Direct-
ors, and the judges of all further elections shall
be appointed, and notice of such election given in
such manner as the by-laws shall provide.

Power to
elect a Presi-
dent.

Sec. 3. And be it enacted, That the Directors
for the time being, or a majority of them, shall
have power to elect a President from their own
body to fill all vacancies that may occur in the
Directorship or Presidency, to appoint all such
officers, agents or servants as they may deem ne-
cessary to conduct or execute the business of the
corporation, to fix their compensation, and in their
discretion to dismiss them, to take bonds of the
corporation from all or any of the officers, agents
or servants by them so to be appointed, with se-
curity conditioned in such form as they shall ap-
prove for the efficient and faithful execution of the
duties of such officers, agents or servants and to
secure the corporation from loss, to regulate the
manner and terms of mailing and receiving de-
posits, and the form of certificates to be issued to
depositors, and the manner of transferring shares
of stock in said corporation, and to invest the
funds of said corporation for the purposes of its
creation in such modes as they shall deem moat