FRANK BROWN, ESQUIRE, GOVERNOR.

David W. Barkman, Dr. Smith S. Davis, Samuel E. Young,
George A. Davis, Charles J. Young and Thomas J. Lamar,
and their successors in office, be and they are hereby consti-
tuted and made a body corporate and politic under the name
and style of the Boonsborough Bank.

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SEC. 2. And be it enacted, That said corporation, under the
above name and style, is hereby made able and capable in law,
to sue and be sued, plead and be impleaded, answer and be
answered, defend and be defended in court of record, or any
other place whatsoever, to make, have and use a common seal,
and the same to break, alter and renew at their pleasure, and
generally to do and execute all and singular such acts, matters
and things as a corporation or a body politic may and can law-
fully do and execute.

Corporate
powers.

SEC. 8. And be it enacted, That the capital stock of the
Boonsborough Bank, created by this act, shall be twenty-five
thousand dollars, in shares of twenty-five dollars each, five
dollars to be paid on each of said shares at the time of sub-
scribing, and the remainder as the board of directors may
determine and require; and the privilege is hereby given to
said corporation to increase its capital stock to fifty thousand
dollars by new subscriptions or by adding to the said capital
its net profits, not otherwise appropriated, whenever it shall be
so determined by the board of directors.

Capital stock.

SEC. 4. And be it enacted, That the persons named in the
first section of this act be and they are hereby appointed com-
missioners to receive subscriptions to the capital stock of the
said corporation, and they, or a majority of them, may cause
books to be opened at such times and places as they may
direct for the purpose of receiving such subscriptions, and
may keep the same open until the whole number of shares
shall be subscribed for, and twenty per cent, of the said sub-
scriptions shall have been paid to said commissioners, then it
shall be lawful for said bank to proceed in all things according
to this charter.

Subscriptions
to stock.

SEC. 5. And, be it enacted, That the affairs of said corporation
shall be managed by seven directors, a majority of whom
shall be citizens of Washington county, Maryland, and one
of whom shall be the president of the bank. The first election
of directors shall take place within thirty days after the whole
number of shares of stock have been subscribed for and twenty
per cent, of said subscription shall have been paid, as provided

Board of
directors.