THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

on them being unfinished, another shall be appointed

in his stead by the remaining commissioners or a ma-

CHAP. 289

jority of them.

SEC. 3. And, be it enacted. That the capital stock of

Capital stock

the said bank shall be thirty thousand shares, of one

hundred dollars each, but may be augmented at any

time within five years after the passage of this act, by

subscription in behalf of this State to an amount not

exceeding one thousand shares, or, after the expiration

of said term, to an amount not exceeding five hundred

shares, and in quantities not exceeding four hundred

shares, in any year; and that as soon as twenty thou-

sand shares of said stock shall be subscribed, the pro-

Incorporated

prietors of said shares, their successors and assigns,

shall be, and they are hereby created, made and declar-

ed to be a corporation and body politic, by the name

and stylo of the Commercial Bank of Baltimore, and

shall so continue until the end of the year eighteen

hundred and fifty-six, and the expiration of the first

session of the next General Assembly which shall be held

thereafter; and by that name shall bs, and are hereby

Powers

made able and capable in law to sue and be sued, plead

and be impleaded, answer and be answered, defend and

be defended, in courts of record, or any place whatso-

ever: also, to make, have and use a common seal, and

the same to break, alter and renew at their pleasure;

and to ordain, establish and put in execution, such by-

laws, ordinances and regulations, as shall seem neces-

sary and convenient for the government of the said cor-

poration, the same not being contrary to law, or the

provisions of this act, and generally, to do and execute

all and singular such acts, matters and things as a cor-

poration or body politic may and can lawfully execute,

and when the State shall become a stockholder to the

Right of State to

amount of fifty thousand dollars, she shall be entitled

Appoint directors

to appoint two directors, and when the State shall be

a stockholder to the amount of one hundred thousand

dollars, she shall be entitled to appoint three di-

ectors; and the election of said directors shall be

annually made by joint ballot of both Houses, either

during the session of the General Assembly, at which

49