52

LAWS OF MARYLAND.

Effective.

SEC. 7. And be it further enacted, That this act shall take
effect from the date of its passage.

Approved March 19th, 1896.

CHAPTER 52.
AN ACT to incorporate the United States Fidelity and Guar-
anty Company.

A body cor-
porate.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That John M. Littig, J. Frank Supplee, Everard K.
Patterson, James E. Tate, William W. Mclntire, Ferdinand
C. Latrobe, Samuel L. Frank, John R. Bland. Frank Brown,
Jacob S. Rosenthal, Edward J. Penniman and Leon Seliger and
their associates and successors, and all such other persons as
shall hereafter become stockholders in the company hereby
incorporated shall be and they are hereby constituted a body
politic and corporate by the name and style of the United
States Fidelity and Guaranty Company, and by that name
shall have perpetual succession and be capable in law to acquire
and hold and in anywise dispose of property, and to sue and be
sued, plead and be impleaded in any court whatever, to make
and use a common seal, and to alter the same at pleasure, and
generally to do everything proper to carry into effect the pro-
visions of this act, or to promote the object and designs of the
company hereby incorporated.

Capital stock

SEC. 2. And be it enacted, That the capital stock of said
company shall consist of twenty-five hundred shares, at one
hundred dollars each, being two hundred and fifty thousand
dollars, with the privilege to increase the same, from time to
time, up to the sum of one million dollars by a vote of the
stockholders at a special meeting, to be called for that purpose ;
and the incorporators, or a majority of them named in this act,
shall have power to open books for subscription at such times
and places as they may deem expedient, and when said twenty-
five hundred shares have been subscribed, and when fifty per
cent, thereon has been paid in, the stockholders may elect
twenty-four directors, or a less- number of directors, not less
than twelve, however, to serve until the ensuing annual election;
and the directors so elected of said company when it shall have
been organized may and they are hereby authorized and empow-
ered to have and to exercise in the name and in behalf of the