THOMAS SWANN, ENQUIRE, GOVERNOR

823

Sec. 4. And be it enacted, That this Act shall
take effect from the date of its passage.

Approved March 30, 1868.

In force.

CHAPTER 427.

AN ACT to incorporate the Maryland and Per-
manent Homestead Association of Baltimore
County.

SECTION 1. Be it enacted by the General Assembly
of Maryland, That John W. Numsen, Frank L.
Moreling, Thomas McKaig, Milton Hammond, L.
P. D. Neuman, J. Perkins Fleming and John
Butler, and their successors, be and they are here-
by declared to be a body politic and corporate, by
the name and style of the Maryland Land and
Permanent Homestead Association of Baltimore
County, and by that name shall have perpetual
succession, and generally to do and perform all
acts and things relative to the objects of this cor-
poration.

Incorporation

Sec. 2. And be it enacted, That the purpose and
objects of this association shall be the purchase,
improvement, sale and leasing of land, the bor-
rowing of money and the loaning of money to its
members and others, upon collateral securities, or
upon mortgage of real or leasehold property, and
to insure the lives of its members and debtors for
the benefit of the association, whereby the security
advanced upon may be, in case of death, secured
to the family of the deceased.

Borrow
money.

Sec. 3. Be it enacted, That the par value of
the shares of this association shall be one hundred
dollars each, the number of which shall not exceed
ten thousand.

Value of
shares.

Sec. 4. Be it enacted. That the affairs of this as-
sociation shall be managed by a President and five
Directors, consisting of persons to be chosen from

Election.