1833.

LAWS OF MARYLAND.

CHAP. 215. Style— legal capa- city	poration and a body politic by the name and style of the Mechanicstoivn Savings Institution and by that nrme shall have succession and be capable by law to hold and dispose of property, to sue and be sued, plead and be impleaded, answer and defend and be answered and defended, in courts of law and equity, or in any other place whatever, and to receive and tnake all deeds, transfers, contracts, cove- nants,conveyances and grants whatsoever, and to make, have and use a common seal, and the same to change and renew at pleasure, and generally to do every other act or thing necessary to carry into effect the provisions of this act and promote the object and design of said Corporation.
Meeting to organ- ize	Sec. 2. And be it enacted, That, there shall be a meet- ing of the members of the Mechanicstown Savings Institu- tion, on such day in the month of May next, and at such place as the persons first named in this act or a majority or them shall appoint and give at least ten days notice of such meeting in one news paper printed in Frederick City
Annual meetings	in said County and in the month of April, and at such place annually thereafter as the by-laws of the said Institu- tion shall provide for the purpose of choosing from among
Officers	the members seven Directors to manage the affairs of the said Institution for twelve months thereafter, and until a new election shall take place, and the five members first named or upon their refusal or neglect any five named in this act shall be judges of the first election of Direc-
Judges	tors and the judges of all furture elections shall be ap- pointed, and notice of such elections given in such manner as the by laws shall provide.
Powers of Directors	Sec. 3. And be it enacted, That the directors for the time being, or a majority of them shall have power to elect a President from their body or from among; the oth- er members, to appoint all such officers, gents and ser-
General powers	vants as they shall deem necessary to conduct or execute the business and affairs of the Institution, to fix their com- pensation, and in their discretion to dismiss them, to pro- vide for the taking bonds to the corporation, from all or any of the officers, agents, or servants by them so appointed, with security conditioned in such form as they shall pre- scribe for the faithful execution of their several duties, and
Notice	to secure the corporation from loss, to regulate the manner of making and receiving deposites, the form of certificates to be issued to depositors, and the manner of transferring the same, to provide for the investments of the funds of the corporation in such manner as they shall deem most safe and beneficial, to provide for the admission of members,