| CHARLES GOLDSBOROUGH, ESQUIRE, GOVERNOR.
manner hereafter mentioned, shall be and are hereby created and
made a corporation and body politic, by the name and style of The
Savings Bank of Baltimore, and by that name shall have perpetual
succession, and be capable by law to hold property, sue and be
sued, plead and be impleaded, answer and defend, and be answered
and defended, in courts of law and equity, or in any other place
whatever, and to receive and make all deeds, transfers, contracts,
covenants, conveyances and grants, whatsoever, and 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 this act, and promote the design
of said corporation. |
1818.
CHAP. 93. |
2. AND BE IT ENACTED, That said corporation
shall annually,
on the first Tuesday in February in the city of Baltimore, or at
such other time or place as by the by-laws or regulations hereafter
to be adopted, may be appointed, elect from the members of said
corporation twenty-five directors, to serve for the term of twelve
months, or until others shall be chosen, who during their term of
service, shall have the sole management and direction of the concerns
of said corporation, elect a president from their own body,
and be authorised to make, from time to time, as they may deem
expedient, such by-laws, or other rules, for the regulation and government
of themselves, and the members of said corporation, and
the same to change, add to, or amend, as may appear necessary or
proper; Provided always, that such by-laws or rules be not contrary
to the constitution and laws of the United States, or of the state
of Maryland; And provided also, that said corporation shall not
be
authorised to make any bills or notes in the nature or description
of bank notes, or to loan any part of the funds deposited to any
director of said corporation. |
Twenty-five directors
to be annually
elected.
Provisos. |
3. AND BE IT ENACTED, That said corporation
shall be capable
of receiving from any free person or persons, any deposit or deposits
of money, and that all monies received, or to be received, shall
be vested in public stocks, or other securities, and such interest be
allowed to the depositors thereof as may from time to time be directed
or provided for, by the by-laws of said corporation; the
surplus profits to be divided every three years among the depositors,
in such manner as the directors for the time being may think
proper; and that no member shall be liable in his person or property
for any debts, contracts or engagements, of the said corporation,
but that the money, property, rights and credits, of said corporation,
and nothing more, shall be liable for the same. |
Corporation capable
of receiving
deposits and vesting
monies in public
stocks, &c. |
4. AND BE IT ENACTED, That the directors of
said corporation,
or a majority of those attending at any meeting of the board, may
elect, by ballot, any other person or persons as members of the
Savings Bank of Baltimore. |
Directors may elect
any other persons
as members. |
_____
|
|
CHAP. XCIV.
An Act for the relief of Phœbe Cresap, of Allegany County.
Lib.
TH. No. 6, fol. 310. A Private Act. |
Passed Jan. 29, 1819. |
_____
|
|
CHAP. XCV.
An Act authorising Aquilla G. Bowen, late one of the Collectors
of
Calvert County, to complete his Collections. Lib. TH. No. 6,
fol. 311.
See 1817, ch. 201. |
Passed Jan. 30, 1819. |
|
 |
