76 LAWS OF MARYLAND.
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Chapter 69.
AN ACT to repeal sections two and three of the
act of eighteen hundred and eighty-six, chap-
ter one hundred and forty-five, entitled "An
act to incorporate the Pro vident Savings' Bank,
of Baltimore," and to re-enact the same with
amendments.
SECTION 1. Be it enacted by the General As-
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Repealed and
re-enacted.
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sembly of Maryland, That sections two and three
of the act of eighteen hundred and eighty-six,
chapter one hundred and forty -five, entitled "An
act to incorporate the Provident Savings' Bank
of Baltimore," be and the same are hereby re-
pealed and re-enacted to read as follows :
SEC. 2. And be it enacted, That the general busi-
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General busi-
ness object.
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ness and object of said corporation shall be the
establishment of a central office in the city of
Baltimore, and branches in said city and in the
counties of the State of Maryland, where said
corporation shall be capable of receiving from
any person or persons, bodies corporate or poli-
tic, any deposit of money which shall be invested
or loaned out on good security, in the discretion
of the directors ; provided that no part of the
funds of said corporation shall be loaned to any
officer or director thereof. It shall be the duty
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Declare divi-
dends.
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of the directors, at least as often as every twelve
months, to make and declare such dividend of
the interest and profits of said institution as will
not impair the deposit thereof, or otherwise in-
jure or effect the interest or credit of said insti-
tution, and the same to pay over to the deposi-
tors, or their legal representatives, within thirty
days thereafter if called upon so to do ; and no
director or other officer shall be liable in his per-
son or property for any debts, contracts or en-
gagements of said corporation, and nothing more
shall be liable for the same.
SEC. 3. And be it enacted, That the affairs of
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Affairs— how
managed.
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said corporation shall be managed by a board of
such number of directors as its by-laws may
provide ; such number to be not less than fifteen
nor more than forty ; that the first directors of
said corporation shall be the persons named in
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