74

STATE OF MARYLAND.

CHAP. 63.
Preamble.

WHEREAS, The language of said charter is ambiguous as to
the powers of said institute, and it is the wish of the directors
and stockholders thereof that its corporate powers be increased
and enlarged, and its charter amended, so as to enable said
bank to engage in, carry on and conduct in said city a general
banking business ; now, therefore,

SECTION 1. Be it enacted by the General Assembly of
Maryland, That the Mechanics' Loan and Savings Institute

Power given
to borrow
and receive
money, etc.

be and it is hereby authorized and empowered to borrow
money, receive money on deposit, and pay interest thereon, 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 institute may deem sufficient; to
buy. and sell bills of exchange, notes, bunds or other securities ;
to make such special regulations in reference to special or other
deposits as the board of directors may think advisable ; to
issue letters of credit and other commercial obligations, and
generally to do and transact a general banking business.
SEC. 2. And be it enacted. That whenever any deposit shall
be made by a minor or married woman, such deposit shall be

How deposits
shall be
received.

received or held and paid out on precisely the same terms and
conditions as those of adult male or adult unmarried female
depositors, and the check, receipt or acquittance of such
minor or married woman shall be valid and binding on them.
SEC. 3. And be it enacted, That the said corporation shall

Subject to
certain laws.

be subject to the provisions of chapter 109 of the Acts of the
General Assembly of 1892, as amended by chapter 160 of the
Acts of the General Assembly of 1896, and to all general
laws applicable to companies or associations of a character
similar to that named in this Act.
SEC. 4. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved March 20, 1902.