712

LAWS OF MARYLAND.

necessary to carry into effect the provisions of this
Act or to promote the objects or designs of said
corporation.

Directors,

Sec. 2. And be it enacted, That the persons
named in the first section of this Act shall be
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 depos-
its.

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

Real estate.

Sec. 4. First — 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 transaction
of its business.

Second — Such as shall have been conveyed to it
by mortgage or otherwise, in good faith, for money,
in pursuance of the provisions of this Act, and such
as have been purchased at sales upon judgments or
decrees obtained or rendered for money so loaned.

How loaned.

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

Annual report

Sec. 6. Be it enacted, That a report of the state
of the institution shall be prepared annually in the
month of March, by three Auditors appointed for
that purpose by the Directors, who shall not be of
their own body, and such report shall be published
for the information of the depositors,

Open books.

Sec. 7. Be it enacted, That the books of the said
corporation shall at all times be opened for inspec-
tion and examination to the Comptroller of the
State and such other persons as the General As-
sembly may appoint as its agents for that purpose.