340

LAWS OF MARYLAND.

State or of the United States, together with any five
Directors thereof elect, he and they are hereby ap-
pointed commissioners, with authority to establish

State Institu-
tions.

a hanking institution in their now locality, or any
other within the State, and under their present
style so modified, however by omitting the word
" National" where now existing as to represent a
State institution, and, when deemed necessary or
advisable, to adopt a new style altogether.

Sec. 2. And be it enacted, That the said institu-
tion, under tine name and style adopted, is hereby
made able and capable in law to sue and be sued,

Powers.

plead and be impleaded, answer and be answered,
defend and be defended, in courts of record or any
other place whatsoever; to make, have and use a
common seal, and the same to break, alter and re-
new, at their pleasure, and generally to do and
execute all and singular such acts, matters and
things as a corporation or body politic may and
can lawfully execute.

Sec. 3. And be it enacted, That the capital stock

Capital stock
in city.

of said corporation, when located in the city of Bal-
timore, shall consist of not less than three hundred
thousand dollars, divided into shares of one hun-
dred dollars each, with the privilege of so increas-
ing from time to time the number of shares to in
all twenty thousand, thus making the entire capi-
tal stock two million dollars; and when three hun-
dred thousand dollars of said capital stock shall
have been full paid, in the "lawful money of the
United States," and so certified by a majority of
the said Commissioners or Directors to the Treas-

Certified to
Comptroller.

urer and Comptroller of the State, and a certificate
of their so organization he transmitted to the Clerk
of the Court of Appeals, to he by him recorded
among the records of his office, and not before,
shall they be entitled to all the benefits and privi-
leges herein conveyed or intended to be conveyed.

Sec. 4. And be it enacted, That the capital stock
of said corporation, when located other than in the

Capital stock
in State,

city of Baltimore, shall consist of not less than fifty
thousand dollars, divided into shares of one hun-
dred dollars each, with the privilege of so increas-
ing, from time to time, the number of aharea to in
all five thousand, thus making the entire capital
stock five hundred thousand dollars; and when