EDWIN WARFIELD, ESQ., GOVERNOR.

263

SEC. 5. And be it enacted, That said corporation may invest
in fee simple or leasehold property, bonds and stock of

CHAP. 181

other incorporated companies, individual securities and other
evidences of debt, and may loan money to individuals or
corporations, who need not be members of said corporation,
upon giving security therefor, mortgages upon fee simple or
leasehold property, situate in the State of Maryland, upon
such rate of interest, terms and conditions as the board of
directors may deem to be to the interest and advantage of
said corporation, and that said corporation be authorized
and empowered to take, have, hold and enjoy all such estates
and securities, real, personal and mixed, as may be obtained
with the money aforesaid, and with any and all funds that
may come into its possession in course of its business deal-
ings; and may sell, grant, mortgage, lease, hypothecate,
assign and dispose of the same in its discretion, will and
pleasure, and execute and acknowledge all deeds, mortgages,
leases, releases and other legal instruments necessary to
carry out its agreements and contracts.

SEC. 6. And be it enacted, That the following powers and
privileges are also granted to said corporation: First — To

May invest in
fee simple
property, etc

purchase, invest in and sell any and all kinds of property,
real, personal or mixed, and to execute deeds, conveyances,
assignments and transfers thereof. Second — To receive
deposits of money and to accumulate the same, and to issue
certificates of deposits therefor, payable at such times and
on such terms as may be agreed upon between said corpora-
tion and the person or persons depositing same. Third —
To loan money on promissory and negotiable notes, chattel
mortgage, bills of sale, stock and bonds, bills obligatory
and other evidences of debt.

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

Approved March 27, 1906.

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