1098

LAWS OF MARYLAND.

CHAP. 655

are hereby declared a body corporate under the name and
style of " Ocean City Pier and Improvement Company of
Ocean City, Maryland."
SEC. 2. And be it further enacted, That said corporation,
under the above name and style, is hereby made able and

May sue and
be sued, etc.,
In courts of
law.

capable in law to sue and be sued, plead and be impleaded,
answer and be answered, defend and be defended in courts
of law; to make, have and use a common seal, and the same
to break, alter or renew at their pleasure, and generally to do
and execute, all and singular, such acts, matters and things
as a corporation and body politic may and can lawfully
execute.
SEC. 3. And be it farther enacted, That the capital stock of
the said " Ocean City Pier and Improvement Company of

Capital stock.

Ocean City, Maryland," shall be twenty-five thousand dollars,
divided into five hundred shares, of the par value of fifty
dollars each, and privilege is hereby given to said corpora-
tion to increase its capital stock to one hundred thousand
dollars by new subscription, or by adding to said capital,
semi-annually or annually, a portion of its net profits not
otherwise appropriated, whenever it shall be so determined
by the board of directors.
SEC. 4. And be it further enacted, That the said Ocean City
Pier and Improvement Company of Ocean City; Maryland,

Certain powers
granted.

shall have power to construct on its pier or wharf such
appliances for amusement or use as the directors of said
corporation may determine, and to charge for the use of said
pier or wharf or appliances such sums of money as the direc-
tors of said company may from time to time see proper to
charge; and for the purpose of carrying out the objects of
said incorporation said company shall have the power to
acquire and hold by purchase, gift, lease or otherwise any
property that the directors of said corporation may determine
is necessary or proper for the use of said corporation to carry
out the object of its incorporation; and to lease, sell and
convey or rent the same, or any part thereof, when, in the
opinion of the directors of said corporation, the interests of
said corporation will be subserved thereby.
SEC. 5. And be it further enacted, That the said company

Authority
given to
Issue capital
stock.

shall be authorized to issue its capital stock or any increased
capital stock which it may hereafter be entitled to have in
payment upon contracts for the construction or equipment;