JAS. BLACK GROOME, ESQUIRE, GOVERNOR. 795

the capital stock of the said corporation, and they,
or a majority of them, may cause books to be opened
at such times and places as they may direct, for the
purpose of receiving such subscriptions, and may keep
the same open until the whole number of shares,
amounting to the sum of one hundred thousand dol-
lars, shall be subscribed for ; and when the sum of
fifty thousand dollars of stock shall have been sub-
scribed, and twenty thousand dollars paid thereon,
then it shall be lawful for said bank to proceed in
all things according to this charter.
SEC. 5. And be it enacted, That the affairs of said
corporation shall be managed by nine directors, a	Management
majority of whom shall be citizens of Queen Anne's
county, and one of whom shall be president of the
bank; the first election of directors shall take place
thirty days after the organization of said corpora-
tion, which organization shall take place as soon as
stock to the amount of fifty thousand dollars shall
have been subscribed for; of the time and place of
holding which election, the persons named in the
first section of this act, or a majority of them, shall	Give notice of
give at least three weeks' notice in some newspaper	election.
published in the town of Centreville, Queen Anne's
county, Maryland ; the term of service of said direc-
tors shall continue for one year, or until another
election; the directors thereafter shall be elected
annually from amongst the stockholders, at such
time and place, and m such manner as the by-laws
of this corporation may direct; the directors for the
time being, or a majority of them, shall have the
power to elect a president from their own body, to
fill all vacancies that may occur in the directors or	Elect a presi-
presidency, to appoint all such officers, agents, and	dent
servants as they shall deem necessary, to conduct or
execute the business of said corporation, to fix their
compensation, and in their discretion to dismiss
them, to take bonds for and in the name of said cor-
poration from any or all of the officers, agents, or
servants by them so appointed, with security condi-
tioned in such form as they shall approve for the
faithful discharge of the duties of such officers,
agents, and servants, to secure said corporation from
loss; to invest the funds of the corporation, and to	Invest the
do such other lawful acts touching the same, as they	funds,
may deem beneficial and proper, to pass all such by-