240 BANKS AND TRUST COMPANIES. [ART. 11

legal existence until all copies of the articles of association have been
filed for record as herein directed. The fee for filing such articles of
incorporation with the Bank Commissioner shall be ten ($10) dollars,
and for filing amendments to the articles of incorporation, five ($5)
dollars; all such fees to be collected by the Bank Commissioner.

1910, ch. 219, sec. 23 (p. 12).

23. Upon making and filing of the articles of incorporation, and
upon the payment of the bonus and other taxes required by the laws,
of this State, the bank shall become a body corporate, and as such shall
have the following powers:

First. To make all contracts necessary and proper to effect its pur-
pose and conduct its business.

Second. To sue and be sued, to appear and defend in all actions-
and proceedings under its corporate name to the same extent as a
natural person.

Third. To have a common seal and to alter the same at pleasure.

Fourth. To elect or appoint all necessary officers, agents and serv-
ants, define their duties and obligations, fix their compensation, dis-
miss them, fill vacancies and require bonds.

Fifth. To make, amend and repeal by-laws and regulations, not
inconsistent with law or its articles of organization, for its own govern-
ment, for the orderly conduct of its affairs and the management of its
property, for determining the manner of calling and conducting its
meetings, the tenure of office of its several officers, and such other
matters as shall be necessary or convenient for the accomplishment of
its purpose.

Sixth. To exercise, by its directors, duly authorized officers or
agents, all such powers as shall be usual in carrying on the business of
banking; by buying, discounting and negotiating promissory notes,
bonds, drafts, bills of exchange, foreign and domestic, and other evi-
dences of debt; by receiving deposits of money upon which interest
may be paid; by buying and selling coin and bullion, and by buying and
selling exchange, foreign and domestic; issuing letters of credit, and
by loaning money on personal or real security, as provided hereinafter.
Cf. sec. 46: also. art. 23. sec. 7.

1910, ch. 219, sec. 24 (p. 13).

24. The subscriptions to the original stock and the direction of
the affairs of the corporation prior to the election of directors shall be
in conformity with the statutes of the State relating to corporations
regulating such matters, so far as applicable.

1910. ch. 219, sec. 25 (p. 13).

25. Whenever articles of incorporation are filed with the Bank
Commissioner, as herein provided, and the bank transmitting the same