8
Repealed.
Name
changed.
Number of
directors re-
duced.
Proviso.
President,
how elected.
Officers.
Compensate':
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LAWS OF MARYLAND.
nine, ten and thirteen of an Act entitled " an Act to
incorporate the Old Town Savings Institution of Bal-
timore," passed at the January session, eighteen
hundred and fifty-eight, be and the same are hereby
repealed.
SEC. 2. And be it enacted, That the Act passed at
January session, eighteen hundred and sixty, en-
titled " an Act to amend an Act to incorporate the
Old Town Savings Institution of Baltimore," passed.
at January session, eighteen hundred and fifty-eight,
be and the same is hereby repealed.
SEC. 3. And be it enacted, That the corporate name
of the Old. Town Savings Institution of Baltimore,
shall be and is hereby changed to that of the Old
Town Bank of Baltimore, by which latter name or
title said corporation shall hereafter have and ex-
ercise all the corporate powers granted by its original
Act of incorporation, passed at January session,
eighteen hundred and fifty-eighty and by this amend-
ment thereto.
SEC. 4. And he it enacted. That from and after the
passage of this Act, and its acceptance by a majority
of the stockholders and members of said corporation,
as hereinafter provided for, the number of Directors
provided in the original Act to which this amendatory,.
be and the same are hereby reduced in number to nine,
who shall have the same powers and qualifications,
be subject to the same duties and restrictions, and also
be elected at the times and in the manner set forth
in the second section of tire Act to which this is amen-
datory, and as hereinafter provided, provided, how-
ever, that no one except a stockholder shall vote at
such election or be elected as a Director.
SEC. 5. 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, or from the stockholders in said corporation, to fill all
vacancies that may occur in the Director? or Presi-
dency, to appoint all such officers, agents and servants
as they shall deem necessary to conduct or execute
a the business of said corporation, fix their compensa-
tion, and, in their discretion, remove them from office,
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