EDWIN WARFIELD, ESQ., GOVERNOR.

1227

CHAPTER 726.

AN ACT to Incorporate the Northwestern Savings and
Loan Association.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That H. Bradley Davidson, John L. Weaver and Wm.
L. Chitty, of Montgomery county: Jackson H. Ralston, of

CHAP. 726

Prince George's county, Maryland; and Howard S. Gott
and Harvey T. Winfield, of the District of Columbia, and
their associates, successors and assigns be and they are
hereby created a body corporate by the name of the North-
western Savings and Loan Association, and by that name to
have perpetual succession and be competent to sue and be
sued in any court of law or equity whatever, have and use a
common seal and alter the same at its pleasure; to make
and adopt a constitution and by-laws for the government of
said body corporate and its officers, agents and employes,
and from time to time amend the same; provided such con-
stitution, by-laws or amendments thereto shall not conflict
with the constitution and laws of this State or of the United
States; to perform all and singular the acts, contracts,
matters and things which may be necessary to carry out the
objects and purposes, and to exercise the powers by this Act

Body
corporate.

conferred upon it; the principal office to be in Montgomery
county, but with the right to establish offices or places of
business in Prince George's county, Maryland, and, if
desired, a branch office or offices in the District of Columbia,
but not elsewhere than as stated, and with no right to trans-
act business outside of the counties and district named.

SEC. 2. And be it enacted, That the capital stock of said
body corporate shall consist of ten thousand shares, of the

Location of
principal
office.

par value of two hundred ($200) dollars, aggregating two
million ($2,000,000) dollars, with the privilege to said body
corporate to increase the same from time to time, not to
exceed five million ($5,000,000) dollars, by the vote of the
stockholders at a special meeting to be called for that pur-
pose, or at a regular meeting.

SE'C. 3. That said corporation shall be managed by a board

Capital stock.

of not more than fifteen directors, who shall be elected at
the annual meeting of the stockholders and serve one year,
or until their successors are elected and qualified; that the

Board of
directors
elected.