1350,

LAWS OF MARYLAND.

CHAP. 801

of debt, and to advance money upon the security thereof,
upon such terms as may be agreed upon; to develop or
improve real estate and operate the same and to contract
with reference thereto; to lend money upon mortgages re-
payable in instalments upon the same plan and principles
authorized by the laws of Maryland applicable to "building
or homestead associations," and to lend or borrow money
in accordance with bank usages; to issue bonds or certificates
of indebtedness secured by mortgage or mortgages, and
generally to conduct an investment business.

SEC. 4. And be it further enacted, That said body corporate

May Increase
capital stock

shall have the right from time to time to increase the capital
stock up to twenty thousand shares of par value of one
hundred dollars each; provided, the holders of two-thirds of
the stock then issued vote in favor of such increase.

SEC. 5. And be it further enacted, That the directors of
said body corporate shall have the power to declare such

Dividends
declared.

dividends of the profits of said body corporate as they may
deem proper; provided, that no dividends shall be declared
when the capital stock shall be impaired thereby; provided
further, that the said company shall be subject to all the
provisions and regulations relating to banks as provided by
the public general laws of the State.

SEC. 6. And be it further enacted, That the stockholders of

Liability of
stockholders.

said body corporate shall be liable to the amount of their
respective share or shares of stock in said body corporate
for all its debts and liabilities, upon bill or otherwise.

SEC. 7. And be it further enacted, That this Act shall take
effect from the date of its passage.

Approved April 5, 1906.