1326 LAWS OF MARYLAND. [Ch. 788]

to exceed fifty thousand dollars; provided that when any
increase or increases may be made in said capital stock such
notice shall be given to the stockholders of the meeting to be
held for the purpose of considering such increase as may be
required by the by-laws of said corporation for the annual
meeting of stockholders.

SEC. 3. And be it enacted, That the stockholders of said cor-
poration be and they are hereby authorized at any special or
annual meeting by a vote of two-thirds of the capital stock-
thereof to reduce the number of directors from twelve as at
present authorized to such number as they may deem expedient,
provided that the number of directors shall not be less than
five, and provided further that at any meeting of the said
directors a majority of the board shall constitute a quorum
thereof for the transaction of all business that may come before
it.

SEC. 4. And be it enacted, That said corporation shall have
power to borrow money, to receive money on deposit, to lend
money or to discount in accordance with bank usage, taking
such security 'therefor, either real or personal, as the board of
directors may deem sufficient: and said corporation may buy
or sell bills of exchange, notes, bonds or other securities; may
purchase and hold such real and personal estate and property
as may be necessary for the transaction of its business; may
rent out to its depositors and others boxes and other receptacles
in its vault for the keeping of securities, papers and other
valuable articles; may issue letters of credit and other com-
mercial obligations, and generally may do and transact a gen-
eral banking business; and shall have perpetual succession.

SEC. 5. And be it enacted, That whenever any deposits shall
be made in said corporation by a minor, such deposit shall be
received or held and paid out on precisely the same terms and
conditions as those of adult depositors, and the check, receipt
or acquittance of such minor shall be valid and binding on him
or her, any law of this State to the contrary notwithstanding.

SEC. 6. And be it enacted, That the election of directors of
said corporation shall be in accordance with the by-laws passed
by the stockholders thereof.

SEC. 7. And be it enacted, That it shall be lawful for the
said corporation to issue notes usually denominated bank notes,
to an amount not at any time exceeding the amount of its cap-
ital stock actually paid in, and no notes shall be issued for a
less amount or denomination than $5, but this section shall not
be construed as compulsory upon said corporation to issue such
bank notes if the directors shall at any time deem it inadvis-