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LAWS OF MAEYLAND.

ceed to organize and proceed in all things according to this

charter.

SEC. 4. And be it enacted, That the affairs of said corporation

shall be managed by a board of five directors, three of whom shall

be a quorum, who shall be elected by the stockholders immediately

after the organization of said corporation, and on the first Mon-

Officers.

day of May in each and every year thereafter, or as soon as practi-

cable; the directors shall hold office until their successors are

elected, and they shall be authorized to elect a president from their

number, and also a secretary and treasurer and such other officers

as they may deem necessary for the proper conduct of the business

of said corporation, to regulate the compensation of such officers

and to remove them when they deem proper.

SEC. 5 And be it enacted, That said corporation may mate and

may procure copies and abstracts from the public records of the

State and gather information therefrom, and from other sources

relating to conveyance of property, real and leasehold, make in-

dexes of all deeds, mortgages, judgments, decrees and other records

Powers.

within the State of Maryland; may make and procure and fur-

nish plats and other matters relative to property; may examine

the titles to property, give certificates of same, and guarantee or

insure owners and mortgagees of property, real or leasehold against

loss by reason of defective title liens or other incumberances; and

shall have the right to acquire by purchase or otherwise, and to

hold, manage and dispose of or in any way not contrary to law,

deal in any property, real, personal or mixed which shall be nec-

essary to enable the corporation to carry on its business or fulfil

the powers and purposes herein named.

SEC. 6. And be it enacted, That this act shall take effect from

Effective.

the date of its passage.

Approved March 31, 1890.

CHAPTER 210.

AN ACT to repeal section one, of article twenty-one, of the Code

of Public General Laws of Maryland, title "Conveyancing,"

and to re-enact the same with amendments.

SECTION 1. Be it enacted by the General Assembly of Maryland,

Repeal.

That section one, of article twenty-one, of the Code of Public

General Laws of Maryland be and the same is hereby repealed

and re-enacted so as to read as follows :

SEC. 1. No estate of inheritance or freehold, or any declaration

or limitation of use, or any estate above seven years, shall pass or

take effect unless the deed conveying the same shall be executed,