808

LAWS OF MARYLAND.

severally mature, and the same shall not be diverted for any
other purpose whatever. And any one having charge of said
bonds or moneys who shall in any way misapply or divert the
same from the purposes of this Act shall be deemed guilty of
a misdemeanor, and on conviction shall be subject to fine or
imprisonment, or both, which as to amount or time, shall be in
the discretion of the court.

Effective.

SEC. 2. And be it enacted, That this Act shall take effect
from the date of its passage.
Approved April 7, 1898.

CHAPTER 266.
AN ACT to amend the charter of "The Cumberland German
Savings Bank of Allegany County," so as to authorize said
bank to engage in and conduct a general banking business.
WHEREAS, The German Savings Bank of Cumberland, Mary-

Preamble.

land, was duly incorporated under the general laws of Mary-
land, authorizing the formation of savings institutions, for the
purpose of conducting a savings bank in the city of Cumber-
land, with a capital stock of twenty-five thousand dollars
($25,000), divided into one thousand shares, according to the
certificate of incorporation, approved April 11, 1695, and duly
recorded in the clerk's office of the Circuit Court for Allegany
County, in Liber No. 2, folio 94; and

Preamble.

WHEREAS, The said bank is now and has been ever since
conducting a savings bank in said city ; and

Preamble.

WHEREAS, It is the wish of the directors and stockholders
of said bank that its corporate powers be increased and en-
larged, and its charter amended so as to enable said bank to
engage in, carry on and conduct in said city a general banking
business; now, therefore,
SECTION 1. Be it enactedby the General Assembly of Mary-

Authority
and power
granted.

land, That the said German Savings Bank of Cumberland,
Maryland, be and it is hereby authorized and empowered to
borrow money, receive money on deposit, and pay interest
thereon, and to loan money or to discount in accordance with
bank usage, taking such security therefor, either real or per-
sonal, as the board of directors of said bank may deem suffi-
cient; to buy and sell bills of exchange, notes, bonds or other
securities; to make such special regulations in reference to
special or other deposits as the board of directors may think
advisable ; to purchase and hold such real and personal estate