FRANK BROWN, ESQUIRE, GOVERNOR.

as the directors of said Kent County Savings Bank until the
first Tuesday in July, eighteen hundred and ninety- four, or
until their successors are duly elected and qualified.

9

SEC. 3. And be it further enacted. That five (5) of the
Board of Directors of the said Kent County Savings Bank
shall be a quorum for the transaction of the business of the
said bank.

Quorum.

SEC. 4. And be it further enacted, That the capital stock
of the said Kent County Savings Bank shall be twenty thou-
sand dollars, to consist of two hundred, shares of a par value of
one hundred dollars each, but said capital stock may be
increased from time to time at such meetings of the stock-
holders of said bank as may be called for such purpose by a
three-fourths vote of the shares of stock of said bank to an
amount not exceeding one hundred thousand dollars, consisting
of one thousand shares of a par value of one hundred dollars
each, and the stockholders of said bank shall be liable to the
amount of their respective share or shares of stock in said bank
for all its debts and liabilities upon note, bill or otherwise.

Capital stock.

SEC. 5. And be it further enacted, That the directors of
the said Kent County Savings Bank may pay out of the net
profits of the business of said bank, such interest on stock-
holders' transient deposits in said bank and such dividends on
the capital stock of the said bank to the stockholders of said
bank, as will not impair the capital of the said Kent County
Savings Bank.

Interest and
dividends.

SEC. 6. And be it enacted, That the Kent County Savings
Bank shall have power to borrow money and pay interest
thereon not exceeding the legal rate, receive money on deposit
on such conditions an'd subject to such regulations as the board
of directors may determine, and to loan money upon such
security as the board of directors of said bank may deem suffi-
cient, and to buy or discount notes or other commercial paper,
county scrip or obligations of the counties and cities of this
State or public or private obligations of any 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.

Corporate
powers.

SEC. 7. And be it enacted, That any individual or adminis-
trator, guardian, receiver, assignee, trustee or any public officer

Deposits in
general.