700

STATE OF MARYLAND.

CHAP. 479.

SEC. 5. And be it further enacted, That this Act shall take
effect from the date of its passage.
Approved April 8, 1902.

CHAPTER 479.
AN ACT to Incorporate the "United Surety Company."

Body
corporate.

SECTION 1. Be it enacted by the General Assembly of
Maryland. That Granville H. Swoper, Richard H. Spencer,
Frederick W. Legg, George E. Samand, Edgar Goodman and
their associates, successors and assigns, and all other persons
who may 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 "United
Surety Company," and by that name shall have perpetual
succession and be capable in law to acquire and hold and in
anywise dispose of property, real, personal and mixed, to sue
and be sued, plead and be impleaded in any Court of Law or
Equity whatever, to make and use a common seal and to alter
the same at pleasure, and generally to do, execute and enforce
all and singular such acts, contracts, matters and things as may
be necessary and proper to carry out the objects and purposes
and to protect the interests of said body corporate and to
exercise the power or powers of this Act conferred upon it.
The office of the company shall be in Baltimore city, State of
Maryland. And the said company shall have the right to
establish brandies or agencies for the transaction of its busi-
ness in any State or territory of the United States, or in any
foreign country, and to have and appoint managers, agents,
officers and employes to manage the same under the general
authority and direction of the board of directors or the duly
authorized executive committee.

Capital stock
with
privilege to
increase same

SEC. 2 And be it further enacted, That the capital stock
of said company shall consist of tive thousand (5,000) shares
of the par value of one hundred ($100) dollars each, being
tive hundred thousand ($500,000) dollars, with the privilege
to increase the same, from time to time, up to five million
($5,000,000) dollars, by a majority vote of all the stock at a
special meeting to be called for that purpose; and the incor-
porators, or a majority of them named in this Act, shall have
power to open books for subscription to the capital stock of
the company, at such times and places, in the city of Balti-
more or elsewhere, as they may deem expedient, and they
shall have authority to offer said stock for subscription at par,
or at such sum above par as they may decide, and when said
five thousand (5,000) shares shall have been subscribed, and