EDWIN WARFIELD, ESQ., GOVERNOR

847

SEC. 2. And be it enacted, That this Act shall take effect

from the date of its passage.

Approved April 8, 1904.

CHAPTER 493.

AN ACT to incorporate the Monument Building, Savings and

Investment Association of Baltimore City.

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

land, That Stanley A. Foutz, Francis Norris, Jr., William A.

Monument

Beardsley, Charles M. Cohn, of the City of Baltimore; Harry

Building,
Savings and

E. Goodwin, John F. Everhart, of Baltimore County, and

Investment
Association

Michael H. Fahey, of Harford County, State of Maryland,

of Baltimore

and the subscribers to the stock of the incorporation hereby

City.

created and their successors and assigns be and they are hereby

created a body corporate by the name of the Monument Build-

ing, Savings and Investment Association of Baltimore City,

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 alter the same

at its pleasure, and to make and adopt a constitution and by-

laws for the government of said body corporate, and its officers,

agents and employees, and from time to time to amend the

same ; provided, such constitution, by-laws or amendments

thereto shall not conflict with the Constitution and laws of

this State or the United States ; to perform all and singular acts,

contract matter and things as may be necessary to carry out

the objects and purposes and to exercise the power and powers

by this Act conferred upon it; the principal office shall be in

Principal of-

Baltimore City, and said body corporate shall have the right

fice.

to establish and maintain branch offices or places of business in

the City of Baltimore, counties of Maryland and elsewhere.

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

body corporate shall consist of twenty-five thousand shares

Capital stock.

of the par value of one hundred and four dollars, aggregating

two hundred and sixty thousand dollars, with the privilege

to said body corporate to increase the same from time to time

to not exceed one million dollars, by the vote of the stock-

holders at a special meeting or at a meeting to be called for

that purpose.

SEC. 3. And be it enacted, That the said corporation shall
be managed by a board of not more than fifteen directors, who

Management
of corpora-

shall be elected at the annual meeting of stockholders, and shall

tion.