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Session Laws, 1908 Session
Volume 483, Page 1414   View pdf image (33K)
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1414 LAWS OF MARYLAND.

articles, which may be rented or leased to persons upon such
terms and conditions as may be deemed advisable; the said
corporation may issue letters of credit and other commercial
paper, and shall have the power to act as agent for the pur-
pose of issuing, registering or countersigning certificates of
stocks, bonus or other evidences of debt of any State, corpora-
tion, municipality or public authority upon such terms as may
be agreed upon.

SEC. 7. And be it further enacted, That the board of direc-
tors of the said corporation may be increased or diminished
from the number stated in the certificate of incorporation to
a number not less than eight nor more than fourteen at any
annual meeting of the stockholders of said corporation when-
ever the owners of three-fourths of the capital stock of said
corporation shall decide to do so. Vacancies occurring in the
board of directors may be filled by persons selected from among
the stockholders by the board of directors, to hold office until
the next regular stockholders' meeting.

SEC. 8. And be it further enacted. That the capital stock of
the said corporation shall be ten thousand dollars, to consist
of one thousand shares of the par value of ten dollars each,
but said capital stock may be increased from time to time at
such meetings of the stockholders of the said corporation as
may be called for such purpose by a three-fourths vote of all
the shares of stock of the said corporation to an amount not
exceeding fifty thousand dollars.

SEC. 9. And be it further enacted, That the stockholders of
the said corporation be and they are hereby authorized to
change the name of the said corporation to "The Highland
Bank" by the vote of the holders of two-thirds of the capital
stock of said corporation at any regular meeting of the stock-
holders, and should a change of name be decided upo'n as au-
thorized, the president and treasurer of said corporation shall
make a certificate of the change of name and sign the same,
and said certificate, verified by affidavit of the president and
treasurer of said corporation and the seal thereof, shall be
recorded in the office of the clerk of the Circuit Court for
Howard county, and from and after recording of said certifi-
cate the said corporation shall be known by the name of "The
Highland Bank," and by the last mentioned name have
perpetual succession, and may adopt a corporate seal, and
otherwise, in all respects, do, execute, perform and transact
whatever may, can or might be lawfully done, executed, per-
formed or transacted within the scope and for the object and
purposes of said corporation; provided, that it is expressly
declared that the change of name thereby made shall in no

 

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Session Laws, 1908 Session
Volume 483, Page 1414   View pdf image (33K)
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