ROBERT M. McLANE, ESQUIRE, GOVERNOR.

495

at any such annual or general meeting pass by-laws

which shall be binding on the president and directors,

provided also that such by-laws shall not be contrary

to any law of this State or of the United States.

SEC. 6. And be it enacted, That no stockholder,

unless he be a citizen of the State of Maryland, shall

be eligible as a director or president of said corpora-

Eligibility for

tion; and every president or director as the case may

office.

be, shall cease to be a president or director upon his

ceasing to be a stockholder or a citizen of this state.

SEC. 7. And be it enacted, That the said corpora-

tion shall have power to borrow money, receive money

on deposit and pay interest thereon, and to loan money,

or to discount in accordance with bank usage, taking

such security therefor, either real or personal, as the

board of directors of said bank may deem sufficient;

may buy and sell bills of exchange, notes, bonds or

other securities; may accept and hold all such trusts

as shall or may be committed to it by any person or

Powers of cor-
poration.

by the order and direction of any judge, or any court

or tribunal; may make such special regulations in

reference to trust funds, and special or other deposits

as the board of directors may think advisable; may

purchase and hold such real and personal estate and

property as may be necessary for the accommodation

and transaction of its business; may issue letters of

credit and other commercial obligations and generally

may do and transact a general banking business.

SEC. 8. And be it enacted, That the board of direc-

tors shall have power to regulate all matters pertaining

to special or trust deposits, the amounts to be received

at any time, and the manner in which the same shall

Regulate de-

be received or paid, as the case may be, and to make

posite.

all needful regulations in that behalf; provided, that

the aggregate amount of said special or trust deposits,

shall not at any one time exceed the capital stock in

said bank.

SEC. 9. And be it enacted, That whenever any de-

posit shall be made by a minor or married woman

such deposits shall be received or held, and paid out

on precisely the same terms and conditions as those of

adult male or adult unmarried female depositors, and

Deposits of
minor or mar-

the directors of said bank may, at their discretion, pay

ried woman.

to such minor or feme covert depositor, such sum or

sums of money as may be due to him or her, and the

check, receipt or acquittance of such minor or feme