THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

bly, according to their respective interests in its

CHAP. 298.

estate; and the president and directors of said hank

shall distribute rateably amongst and pay to the said

members the excess of said estate, over the par va-

lue of the shares which shall have been allotted as afore-

said: and so soon as the resolution and statement afore-

mentioned shall have been filed as is herein before pro-

vided, the rights of action of the said institution shall

become and be, without any interruption, diminution or

enlargement, the rights of the saitl bank; and the charter

of the said institution shall thereupon cease to be in

force, and be considered as having been surrendered,

and thereby made utterly null and void.

SEC. 2. And be it enacted, That the persons who

Incorporated

shall be the proprietors of the shares of the capital

stock, that shall be allotted as is hereinbefore provi-

ded, and all and every other person or persons who

shall hold any of the capital stock, by this act

authorised to be created, their successors and assigns,

shall be and they are hereby made and declared to be a

corporation and body politic, by the name and style of

the Eastern Bank of Baltimore, and shall so continue

Till 1856

until the end of the year eighteen hundred and fifty-

six, and the expiration of the first session of the Gene-

ral Assembly which shall be held thereafter, and by

that name, shall be and are hereby made able and capa-

blean law to sue and be sued, plead and be impleaded,

answer and be answered, defend and be defended, in

courts of record, or in any other place whatsoever;

also to make, have and use a common seal, and the

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

By laws

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

ordinances and regulations, as shall seem necessary

and convenient for the government of the said corpora-

tion, the same not being contrary to law, or the pro-

visions of this act; and generally to do and execute all

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

poration and body politic may and can lawfully exe-

cute.

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

Capital stock

said bank shall be not less than two hundred and fifty

thousand dollars, nor more than five hundred thousand