812

LAWS OF MARYLAND.

CHAPTER 498.

AN ACT to incorporate the Citizen's Savings Bank

of Garrett county.

SECTION 1. Se it enacted by the General Assembly of

Maryland, That Patrick Hamill, James R. Bishop,

Incoporated.

Daniel Z. Offutt, Ezekiel Totten, Esrael Thompson,

Joseph B. Davis, George Legg, Wilson Proctor, Ed-

ward Hoye and their successors shall be and they

are hereby constituted a body politic, by the name

of the Citizen's Savings Bank of Garrett county,

and by that name shall have perpetual succession,

and be capable in law to hold and dispose of prop-

erty, to sue and be sued, plead and be impleaded,

answer and defend, and be answered and defended

.

in all courts of law and equity, and in any other place-

whatever, and to receive and make all deeds, trans-

fers, contracts, covenants, conveyances and grants

whatsoever ; to have, make and use a common seal,

and the same to change and renew at pleasure, and

generally to do any and every other act or thing

necessary to carry into effect the provisions of this

act, to make by-laws for the organization of said

bank, so that the same be not contrary to the laws

of this State, or of the United States; and may have,

enjoy and exercise all the powers necessary to carry

out the purposes of a savings bank.

Powers.

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

of said corporation shall be fifty thousand dollars,

with liberty to increase the same to one hundred

thousand dollars, to be procured in the manner

hereinafter to be provided ; and said capital stock

shall be divided into shares of fifty dollars each.

SEC. 3. And be it enacted, That the said bank shall

Capital stock.

have power to borrow money or receive money on

deposit, and pay interest thereon, and to loan money

at any rate of interest allowed by law, or to discount

in accordance with bank usages, taking such security

therefor, either real or personal, as the board of

directors of said bank may deem sufficient; may

buy and sell exchange, bills, notes, bonds or other

securities; may accept and hold all such trusts as

shall or may be committed to it by any person, or by