ROBERT M. McLANE, ESQUIRE, GOVERNOR.

459

Chapter 343.

AN ACT to repeal the act of eighteen hundred and

fifty-three, chapter two hundred and twenty-seven ;

to repeal the act of eighteen hundred and fifty-six,

chapter one hundred and nine; to repeal the act of

eighteen hundred and seventy-six, chapter one hun-

dred and ninety, all of which refer to the Peoples

Bank of Baltimore city, and continue the corporate

existence of the said bank.

WHEREAS the charter of the Peoples Bank of Bal-

timore city has been amended from time to time, so

that the corporate rights and limitations of the said

bank are now contained in several acts of the General

Preamble,

Assembly of Maryland; and whereas it is desirable

that the said rights and limitations shall be embraced

in one act of assembly; therefore —

SECTION 1. Be it enacted by the General Assembly

of Maryland, That the act of eighteen hundred and

fifty-three, chapter two hundred and twenty-seven, of

the acts of eighteen hundred and fifty-six, chapter one

Acts repealed.

hundred and nine, and the act of eighteen hundred

and seventy-six, chapter one hundred and ninety, all

of which refer to the Peoples Bank of Baltimore city,

be and they are hereby repealed, and in lieu of said

acts —

SEC. 2. Be it enacted, That the said Peoples Bank

of Baltimore city be and it is hereby continued in

existence as a body politic and corporate, with the

Existence con-
tinued.

rights and privileges, and upon the conditions, and

subject to the limitations in this act contained, until

the year nineteen hundred and twenty-four.

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

of said corporation shall consist of five hundred thou-

Capital stock.

sand dollars, divided into shares of twenty dollars each.

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

corporation shall be managed by a president and

directors, and the number of directors of said cor-

poration shall not be greater than twelve nor less

How managed.

than five, the number to be determined by the

stockholders of said corporation at a general meet-

ing, to be held for the purpose of the first elec-

tion of directors, to be made in the month of