1046

LAWS OF MARYLAND.

person or persons who shall violate any of the provisions of

Penalty for

this bill shall be guilty of a misdemeanor, and upon indictment,

violations.

trial and conviction in the Circuit Court for Anne Arundel

County, shall be fined not less than one hundred dollars or more

than five hundred dollars.

SEC. 9. And be it enacted, That this Act shall take effect

from the date of its passage.

Approved April 12, 1904.

CHAPTER 604.

AN ACT to incorporate the Phcenix Bank of Maryland.

SECTION 1. Be it enacted by the General Assembly of Mary-

land, That E. Madison Mitchell, Lewis W. Randolph, E. N.

W. King, Charles A. Haslup, James F. Douty, Edward K.

Munroe, James F. Shaffer, C. W. McLanahan and John A. J.

Medcalf, all of Baltimore City, and the subscribers to the

Phoenix Bank

stock of the corporation hereby created, and their successors

of Maryland.

and assigns, be and they are hereby created a body corporate

by the name of "Phoenix Bank of Maryland," and by that name

shall have perpetual succession, and shall be competent to

sue and be sued in any court of law or equity whatever ; to have

and use a common seal and to alter the same at its pleasure ;

to make and adopt by-laws, rules and regulations for the

government of said body corporate and its officers, provided

the same shall not conflict with the constitution and laws of

To elect di-

this State or of the United States ; to elect directors, and gen-

rectors.

erally do, execute and enforce all and singular such acts,

contracts, matters and things as may be necessary to carry out

the object and protect the interests of said body corporate,

and to exercise the powers by this Act conferred upon it.

Body corpo-

SEC. 2. And be it enacted, That the capital stock of said body

rate's capital
stock.

corporate shall consist of one thousand shares of the par

value of twenty-five dollars each. The said body corporate

shall not, however, undertake the prosecution of its business

until the stock of the amount of fifteen thousand dollars,

which may be payable in such instalments as the directors of

said corporation may stipulate, shall have been subscribed

and at least fifty per cent, paid thereon, at which time the

stockholders may elect fifteen directors, or a less number of .

directors, not less than seven, however, who shall serve until

the ensuing annual election, the time of which is to be fixed by

the constitution and by-laws to be adopted by said body cor-