374

BANKS, NATIONAL AND STATE. [ART. 43.

tion, and, when deemed necessary or advisable, to adopt a new style
altogether.

Id. s. 2.
Powers granted

7. The said institution, under the name and style adopted, is
hereby 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 other place whatsoever; to make, have, and
use a common seal, and the same to break, alter, and renew, at their
pleasure, and generally to do and execute all and singular such acts,
matters, and things as a corporation or body politic may and can
lawfully execute

Id s 3
Capital stock in
city of Balti-
more.

8. The capital stock of said corporation, when located in the city
of Baltimore, shall consist of not less than three hundred thousand
dollars, divided into shares of one hundred dollars each, with the
privilege of so increasing from time to time the number of shares
to in all twenty thousand, thus making the entire capital stock two
million dollars; and when three hundred thousand dollars of said
capital stock shall have been fully paid, in " the lawful money of the
United States, " and so certified by a majority of the said commis-
sioners or directors to the treasurer and comptroller of the State,

Certified to
comptroller.

and a certificate of their so organization be transmitted to the clerk
of the Court of Appeals, to be by him recorded among the records
of his office, and not before, shall the be entitled to all the benefits
and privileges herein conveyed or intended to be conveyed.

Id s 4.
Capital stock in
State.

9. The capital stock of said corporation, when located other than
in the city of Baltimore, shall consist of not less than fifty thousand
dollars, divided into shares of one hundred dollars each, with the
privilege of so increasing, from time to time, the number of shares
to in all five thousand, thus making the entire capital stock five hun-
dred thousand dollars; and when fifty thousand dollars of said
capital stock shall have been fully paid, in the " lawful money of the
United States, " and so certified by a majority of the said commis-
sioners or directors to the treasurer and comptroller of the State,

Certified to
comptroller.

and a certificate of their so organization be transmitted to the clerk
of the Court of Appeals, to be by him recorded among the records
of his office, and not before, shall they be entitled to all the benefits
and privileges herein conveyed or intended to be conveyed.

Id s. 5.
Board of direc-
tors.

10. The said commissioners, or a majority of them, shall be, and
are hereby, constituted a board of directors to manage the affairs of
the said corporation until the second Monday of July ensuing its or
their organization under this act, and until successors shall be
chosen, and in case it should at any time happen that an election of
directors or appointment of president of the said bank should not
be made so as to take effect on any day when in pursuance of law
the same should take effect, the corporation shall not for that cause
be deemed to be dissolved, but it shall be lawful at any time within
thirty days thereafter, to make such election and appointment in
such manner as shall be directed and provided by the ordinances of
the bank; and in case of the death, resignation, removal out of the