1172

LAWS OF MARYLAND.

of twenty-five dollars each; the said body corporate shall not,

however, undertake the prosecution of its business until the

stock to the amount of twenty-five thousand dollars (which

may be payable in such instalments as the directors of said

corporation may stipulate) shall have been subscribed and paid

in.

Rights of body

SEC. 3. And be it enacted, That the said body corporate

corporate.

shall have the right to purchase and hold, bargain and sell,

grant, assign and convey land, or any interest or estate there-

in, chattels, choses in action, checks, notes, bills of exchange,

certificates of deposit, warehouse receipts, stocks, bonds, mort-

gages, judgments or liens on real estate or leasehold property,

and every and any evidence of debt, to advance money upon

the security thereof by receiving and holding the same or ac-

cepting mortgages thereon, and pay such dividends on the

capital stock of the said bank to the stockholders of the said

bank as will not impair the capital stock of said Farmers and

Merchants' Bank of Chestertown, and pay such interest on

deposits as may be provided by the rules and regulations of

said bank, and generally to deal in every and all description

of properties, personal effects, securities, mortgages and cer-

tificates of indebtedness, stock of incorporated companies, loans

To do a gen-
eral banking

on bonds of the United States, or of any State, city, county

business.

or municipality, or of any incorporated company or individual,

and to do the general business of a bank of discount and de-

posit.

SEC. 4. And be it enacted, That the said body corporate

May receive
money on de-

shall have the right to receive money on deposit, evidences of

posit, etc.

debt for collection, chattels, stocks, bonds, and all paper writ-

ings on storage, upon such terms as may be agreed upon.

SEC. 5. And be it enacted, That the said body corporate

Empowered

shall have the right at any time to increase its capital stock to

to increase

twenty thousand shares of the par value of twenty-five dollars

its capital
stock.

each, and that the directors of said company shall have the

power to change the corporate name thereof; provided, the

holders of more than one-half the stock then issued vote in

favor of such increase or such change; and the said corpora-

tion shall have the right to open branches in such parts of Kent

County as it may deem advisable.

SEC. 6. And be it enacted, That whenever any deposits shall

Deposits of
minors and

be made by a minor or married woman, such deposits shall be

married

received or held and paid out on precisely the same terms and

women.

conditions as those of adult male or adult female depositors,