1831.

LAWS OF MARYLAND.

CHAP. 286.

and defend, and be answered and defended, in courts of

law and equity, or in any other place whatever, and to re-

ceive and make all deeds, transfers, contracts, covenants,

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 of thing ne-

sessary to carry into effect the provisions of the act, and

promote the object and design of said corporation.

General meeting.

Sec. 2. And be it enacted, That there shall be a meeting

of the members of the said Savings Institution of Dorches-

ter county, on such day in the month of July next, and at

such place as the persons first named in this act, or a ma-

jority of them, shall appoint and give at least ten days no-

tice of such meeting, in the newspaper printed in Cam-

bridge, in said county, and in the month of April, and at

Annual meetings.

such place annually thereafter as the by laws of the said

institution shall provide, for the purpose of choosing from

Election of dire-
ton.

among the members, fifteen directors, to manage the affairs

of the said institution, for twelve months thereafter, and un-

til a new election shall take place, and the five members

first named, or upon their refusal or neglect, any tive named

in this act, shall be judges of the first election of directors,

Judges of elections

and the judges of all future elections shall be appointed;

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 own body or from among the

other members: to appoint all such officers, agents and

servants 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 provide

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 prescribe,

for the faithful execution of their seveial duties, and to se-

cure the corporation from loss, to regulate the manner of

making and receiving deposits; the form of certificates to

be issued to depositors, and the manner of transferring the

same; to provide for the investment of the funds of the

corporation, in such manner as they shall deem most safe

and beneficial; to provide for the admission of members, and

furnishing proof of such admission, to provide for paying

all necessary expenses, conducting the affairs of the cor-

poration, and generally to pass all by-laws as shall be ne.

cessary to the exercise of the said powers, and of the

other powers vested in said corporation by this charter, and