780
LAWS OF MARYLAND.
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CHAP. 424
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SEC. 5. And be it enacted, That the capital stock of the said
Citizens' Bank of Saint Michaels, Maryland, shall be ten
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Capital stock
Increased.
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thousand dollars, to consist of four hundred shares of the
par value of twenty -five dollars each; but said capital stock
may be increased from time to time at such meeting of the
stockholders of said bank as may be called for such purpose
by a three-fourths' vote of the shares of stock of said bank to
art amount not exceeding fifty thousand dollars.
SEC. 6. And be it further enacted, That the directors of the
said Citizens' Bank of Saint Michaels, Maryland, may pay
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Interest
allowed.
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out of the net profits of the business of said bank such
interest on stockholders' transient deposits in said bank and
such dividends on the capital stock of said bank to the
stockholders of said bank as will not impair the capital of
the said Citizens' Bank of said Saint Michaels, Maryland.
SEC. 7. And be it enacted, That said Citizens' Bank of Saint
Michaels, Maryland, shall have power to borrow money and
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Powers of
company.
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pay interest thereon not exceeding the legal rate, receive
money on deposit on such conditions and subject to such
regulations as the board of directors of said bank may deem
sufficent, and to buy or discount notes or other commercial
paper, county scrip or obligation of the counties and cities
of this State, or public or private obligations of every
description, and may, after purchasing, sell the same in such
manner and on such terms as the board of directors of the
said bank may determine; may purchase and hold or sell
real and personal estate and property, and generally may do
and transact a general banking business.
SEC. 8. And be it enacted, That any individual or adminis-
trator, committee, guardian, receiver, assignee, trustee or any
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May deposit
money in
Citizens'
Bank of St.
Michaels, Md
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public officer of Talbot county or elsewhere, or any person
or persons acting for others having the custody of any
moneys belonging to themselves or others, be authorized to
deposit the same in the said Citizens' Bank of Saint Michaels,
Maryland, should they so desire, any local law of the State
to the contrary notwithstanding.
SEC. 9. And be it enacted, That whenever any deposits
shall be made by a minor or married woman, such deposits
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As to minor or
married
women
depositors.
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shall be received or held and paid out on precisely the same
terms and conditions as those of adult male or adult female
depositors, and the check, receipt or acquittance of such
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