338
Incorporated
Rights and
powers.
Capital stock
May increase.
Commiss'nrs
to receive
subscriptions
|
LAWS OF MARYLAND.
CHAPTER 221.
AN ACT to incorporate the Boonsboro Bank, in
Boonsboro, Washington county.
SECTION 1. Be it enacted by the General Assembly of
Maryland, That John Luther Nicodemus, Frisby
Davis, Daniel P. Fahrney, Frederick Wyand, John
M. Games, John Murdock, Otho B. Smith, Jacob A.
Thomas, Eli Wade, A. Will. Laken, George W.
Horine, II. B. Wilson, and Noah G. Thomas, be and
they are hereby constituted a body corporate, by the
name and style of -Boonsboro Bank," in Boonsboro,
in Washington county, Maryland, and by this name
shall have successors, and shall be capable in law to
hold and dispose of property, to sue and be sued, to
plead and be impleaded, answer and defend, and be
answered and defended in courts of law and equity,
and in any other place; to receive and make all
deeds, transfers, contracts, covenants, conveyances
and grants whatsoever; to make, have and use a
common seal, and the same to change and renew at
pleasure, and generally to do every other act or thing
necessary to carry into effect the provisions of tins
Act, or to promote the objects and designs of this
corporation.
SEC. 2. And be it enacted. That the capital stock
of the " Boonsboro Bank," intended to be created
by this Act, shall be fifty thousand dollars in shares
of twenty dollars each; five dollars shall be paid on
each share of stock at the time of subscribing, and
the remainder in instalments as the Board of Direct-
ors may require; and privilege is hereby given to
the said corporation to increase the capital stock to
one hundred thousand dollars by new subscription,
or by adding to the said capital semi-annually, a
portion of its nett profits not otherwise appropri-
ated, whenever it shall be so determined by the
Board of Directors.
SEC. 3. And be it enacted, That the persons named
in the first section of this Act, or a majority of them,
be and they are hereby appointed commissioners to
receive subscriptions to the capital stock of the said
|
