534

LAWS OF MARYLAND.

A body cor-
porate.

Matthews, Thomas H. Ridgely and Thomas J. Miller, and their
associates, successors and assigns, and all other persons who may
hereafter become stockholders in the company hereby incorpo-
rated, shall be a body corporate by the name and style of Equit-
able Trust Company of Baltimore County, and by that name
shall have perpetual succession, and sue and be sued in any
court whatever.

Capitol stock.

SEC. 2. And be it enacted, That the capital stock of said
company shall consist of four thousand shares at $25 each,
being $100,000, with the privilege to increase the same from
time to time by a majority vote of all the stock at a special
meeting to be called for that purpose, to $1,000,000; and the
above-named incorporators, or a majority of them, shall have
power to open books for subscription at such times and places
as they may deem expedient, and when not less than two thou-
sand shares have been subscribed and fifty per cent, fully paid
for, the stockholders may elect seven or more directors to serve
until the ensuing annual election or until their successors have
been duly elected and qualified, and the directors of said com-
pany so elected may, and they are hereby authorized and em-
powered to have and to exercise in the name and on behalf of
the company all rights and privileges which are intended to be
hereby given, and should the capital stock be at any time in-
creased, the stockholders at the time of such increase shall be
entitled to a pro rata share of such increase upon the payment
of the par value of the same, and of such price in excess of
the par value as the board of directors may prescribe.

Directors.

SEC. 3. And be it enacted, That the directors shall be elected
annually by the stockholders on the second Monday of April,
and they shall elect from their number at the first meeting of
the board after their election and after all subsequent elections,
a president and one or more vice-presidents, and shall also have
power to elect a secretary and treasurer, and to appoint and
employ such other officers and agents as the business of said

Officers.

corporation from time to time requires; all elections shall be
by ballot, and at such elections and at all meetings of stock-
holders every stockholder shall be entitled to one vote for every
share of stock held by him; but no person shall be eligible as
director who is not a stockholder to the amount of five shares
of stock.

Notice of
election.

SEC. 4. And be it further enacted, That ten days' notice
shall be given by publication in one or more newspapers pub-
lished in Baltimore county of the time and place of said annual
election, which annual 'election shall be .conducted by three