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LAWS OF MARYLAND.

	CHAP. 191	SEC. 2. And be it enacted, That the capital stock of said corporation hereby created shall consist of four hundred
	Capltal stock.	shares, of par value of twenty-five dollars each, being ten thousand dollars, one-half to be paid cash and the rest as the directors shall determine, and the privilege is hereby given to said corporation to increase the capital stock to twenty-five thousand dollars whenever it shall be so deter- mined by a three-fourths' vote of all the directors; pro- vided, the shareholders be given the opportunity to increase their individual stocks in proportion to the increase in the capital stock. SEO. 3. And be it enacted, That the affairs of said corpo- ration shall be managed by a board of not less than seven
	Managed by board of directors.	nor more than twelve directors, who are to be elected annu- ally in January by the stockholders, one week's notice having been given in one or more newspapers published in Talbot county, and that the persons named in the first section of this Act are hereby made the directors of said corporation, with the privilege of electing others; provided, the whole number shall not exceed twelve, to serve until the first annual election in January, 1907, and said directors shall elect from their number a president, vice-president and such other officers as they may see fit. A majority of such direc- tors shall constitute a quorum and be fully authorized for the transaction of any business, and shall have full power to
	Quorum.	make such by-laws, rules and regulations as in their judg- ment they may deem necessary for the welfare of the said corporation; the directors shall also fix the amount of the bond to be given by the officers of the corporation for the faithful discharge of their trust and to regulate the salaries to be paid them. SEC. 4. And be it enacted, That said corporation shall have
	May borrow money, re- ceive money on deposit, etc.	power to borrow; money, receive money on deposit, loan money or to discount notes in accordance with bank usages, taking such security therefor, either personal or real, as the board of directors may deem sufficient; may buy and sell bills of exchange, notes, bonds or other securities; may accept and hold all such trusts as shall or may be committed to it by any person or by the order or direction of any judge, court or tribunal; may make such special regulations in reference to trust funds and special or other deposits as the board of directors may think advisable; may purchase and