EDWIN WARFIELD, ESQ., GOVERNOR.

953

three-fourths vote at any annual meeting of stockholders de-

crease the board of directors of said bank to any number they

may decide; provided, that said board of directors shall not

at any time be less than six in number.

SEC. 4. And be it enacted, That the capital stock of said

Queenstown Savings Bank of Queen Anne's County shall be ten

Capital stock.

thousand dollars, to consist of two. hundred shares of the par

value of fifty dollars each; but said capital stock may be in-

creased from time to time at such meetings of the stockholders

of said bank as may be called for such purpose by a three-

fourths vote of the shares of stock of the said bank to

an amount not exceeding seventy-five thousand dollars.

SEC. 5. And be it enacted, That the directors of the said

Queenstown Savings Bank of Queen Anne's County may pay 1

nterest on

out of the net profits of the business of said bank such interest

deposits.

on stockholders' transient deposits in said bank and such divi-

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

bank as will not impair the capital of the said Queenstown Sav-

ings Bank of Queen Anne's County.

SEC. 6. And be it enacted, That said Queenstown Savings

Bank of Queen Anne's County shall have power to borrow

To transact a
general bank-

money and pay interest thereon not exceeding the legal rate,

ing business.

receive money on deposit on such conditions and subject to

such regulations as the board of directors of said bank may

deem sufficient, and to buy or discount notes or other commer-

cial paper, county scrip or obligations of the counties or cities

of this State, or public or private obligations of every descrip-

tion, and may, after purchasing, sell the same in such manner

and on such terms as the board of directors of said bank may

determine; may purchase and hold or sell real and personal

estate and property, and generally may do and transact a

general banking business,

SEC. 7. And be it enacted, That the said Queenstown Sav-

ings Bank of Queen Anne's County is authorized to receive de-

Authority to
receive de-

posits of money, checks and commercial paper from any in-

posits, etc.

dividual or administrator, committee, guardian, receiver, as-

signee, trustee or any public officer of Queen Anne's County

or elsewhere other than the County Treasurer of Queen Anne's

County, or from any person or persons, acting for others, or

others having the custody of moneys belonging to themselves

or others.