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LAWS OF MARYLAND.

CHAPTER 684.

AN ACT to incorporate the Chestertown Bank of Maryland.

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

The Chester-
town Bank of

land, That Charles T. Westcott, James S. Harris, Edwin S.

Maryland.

Valiant, Samuel Vannort, Franklin H. Harper, Alday

Clements, James W. Chapman, Marion deK. Smith and Rich-

ard D. Hynson, and the subscribers to the stock of the corpora-

tion hereby created, and their successors and assigns, be and

they are hereby created a body corporate by the name of "The

Chestertown 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 a constitution and by-laws for the government of the

said body corporate and its officers; provided, the same shall

not conflict with the Constitution and laws of this State or of

the United States ; to appoint directors and officers, and gen-

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

tracts, matters and things as may be necessary to carry out the

object and protect the interests of said body corporate, and to

exercise the power by this Act conferred upon it.

Capital stock.

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

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

may be payable in such instalments as the directors of said cor-

poration may stipulate) shall have been subscribed.

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

Empowered t
do certain

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

acts.

assign and convey land, or any interest or estate therein, chattel,

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

deposit, warehouse receipts, stocks, bonds, mortgages on real

or leasehold property, and every and any evidence of debt ; to

advance money upon the security thereof, and pay such divi-

dends on the capital of said bank to the stockholders of the

said bank as will not impair the capital stock of said Chester-

town Bank of Maryland, and pay such interest on deposits as

may be provided by the rules and regulations of said bank ; by

receiving and holding the same, or accepting mortgages there-

on ; and generally to deal in every and all description of prop-

erties, personal effects, securities, mortgages, land, certificates