368

LAWS OF MARYLAND.

CHAP. 237

Temple, James B. Newman, Levi Pippin, John H. Newman,
Wolsey J. Massey and J. Kirk Brown, all citizens of the

Body corporate

'State of Maryland, and their associates, successors and
assigns, and all such other persons as may hereafter become
stockholders in the company hereby formed and incorpo-
rated, shall be and they are hereby constituted a body cor-
porate by the name of " The Church Hill Bank of Maryland,"
and by that name shall have perpetual succession and be
capable in law to hold and dispose of property; to sue and
be sued in any court of law or equity; to receive and make
all checks, transfers, contracts and conveyances whatsoever ;
to have and to use a common seal, and to change the same,
alter and renew at pleasure; and generally to do every act or
thing necessary to carry into effect the provisions of this
Act, or to promote the object or designs of said corporation.

SEC. 2. And be it enacted, That the capital stock of said
corporation hereby created shall consist of one thousand

Capital stock.

shares of par value of ten dollars each, being ten thousand
dollars, and said corporation shall have the right to increase
its capital stock, from time to time, at such meetings of the
stockholders of said corporation as may be called for that
purpose, by a three-fourths' vote of the shares of stock of
the said corporation, to an amount not exceeding fifty thou-
sand dollars; and the incorporators herein named, or a
majority of them, shall have power to open books for sub-
scription at such time and place as they may deem expedient,
and when said one thousand shares shall have been sub-
scribed and one-half thereof shall have been actually paid

Directors
elected.

in, the stockholders may elect, in addition to the above
named incorporators, who are also hereby made directors,
such number of additional directors as they may see fit, pro-
vided the whole number of directors shall not be less than
six nor more than twelve, and no director shall own less than
ten shares of the capital stock, and the directors so elected
as aforesaid, and the incorporators named in this Act shall
act as directors for the corporation hereby formed until the
ensuing election, or until their successors shall have been
elected and qualified, and the directors thereafter shall be
elected annually by the stockholders on the second Monday
in January, and shall elect from among their number a presi-

Officers elected

dent and a vice-president; and the directors are further
authorized to elect a cashier and such other officers as may