602

LAWS OF MARYLAND.

in all courts of law and equity and in any other
place whatever, and to receive and make all deeds,
transfers, contracts, covenants, conveyances and
grants whatsoever, to have, make and use a com-
mon seal, and the same to change and renew at
pleasure, and generally to do any or every other
act or thing necessary to carry into effect the provis-
ions of this Act or to promote the objects or de-
signs of said corporation.

Directors.

Sec. 2. And be it enacted, That the persons
named in the first Section of this Act shall be the
Directors of said corporation, and all vacancies
that may occur by death, resignation or otherwise,
as may be provided by the by-laws of said corpo-
ration, shall be filled by the Board of Directors
by ballot at their next meeting, after ten days'
notice in writing to each Director.

Receive de-
posits.

Sec. 3. Be it enacted, That said corporation
shall be capable of receiving from any person or
persons any depositor deposits of money, and that
all monies received or to be received shall be in-
vested in public stocks or other securities, and such
interest be allowed to the depositors thereof as
may from time to time be directed or provided for
by the by-laws of said corporation.

Hold real
estate.

Sec. 4. 1P. Be it enacted, That the real estate
which it shall be lawful for the said corporation to
purchase, hold and convey, shall be such as shall
be requisite for its accommodation in the trans-
action of its business.

Conveyed by
mortgage.

2 P. Such as shall have been conveyed to it by
mortgage or otherwise in good faith for money
loaned, in pursuance of the provisions of this Act.

Money loaned.

3 P. Such as have been purchased at sales, upon
judgments or decrees obtained, or rendered for
money so loaned, and the said corporation shall
not purchase, hold or convey real estate in any
other case or for any other purpose, and all such
real estate as described in the second and third
sub-sections of this Section shall be sold by the
said corporation within three years after the same
shall be vested in it by purchase or otherwise.

Not loaned to
Directors.

Sec. 5. Be it enacted, That no part of the funds
deposited is to be loaned to any Director or officer
of said corporation.