1244

LAWS OF MARYLAND.

CHAP. 736

CHAPTER 735.
AN ACT to Incorporate the Eastern Bank of Baltimore.

SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Charles F. Diehl, Moses Rothschild, Warren W.
Brown, Charles M. Kusell and M. H. Iseman, all of Balti-

Body
corporate.

more city, and the subscribers to the stock of the corporation
hereby created, and their successors and assigns, be and they
are hereby created a body corporate by the name of "Eastern
Bank of Baltimore," and by that name shall have perpetual
succession, and shall be competent to sue and be sued in
any court of law or equity whatever; to have and use a
common seal and to alter the same at its pleasure; to make
and adopt by-laws, rules and regulations for the government
of said body corporate and its officers, provided the same
shall not conflict with the constitution and laws of this State
or of the United States; to elect directors, and generally do,
execute and enforce all and singular such acts, contracts,,
matters and things as may be necessary to carry out the
object and protect the interests of said body corporate, and
to exercise the powers by this Act conferred upon it.

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

Capital stock.

the par value of twenty-five dollars each. The said body
corporate shall not, however, undertake the prosecution of
its business until the full amount of stock has been sub-
scribed and paid for, at which time the stockholders may

Election of
directors.

elect fifteen directors, or a less number of directors, not less-
than seven, however, who shall serve until the ensuing annual
election, the time of which is to be fixed by the constitution
and by-laws to be adopted by said body corporate; and the
directors so elected may and they are hereby authorized and
empowered to have and to exercise in the name and on
behalf of the said body corporate all rights and privileges
which are intended to be hereby given; and they shall, at the
first meeting of the directors after their election, and at their
meeting immediately following all subsequent elections, elect
from their number a president and vice-president or vice-
presidents, and the said directors shall also have the power
to elect a cashier and to appoint and employ such other
officers, clerks and agents as the business of said body cor-
porate may from time to time require.