PRIVATE ACTS. 1367

tent with the laws of this State, or of the United States; to
elect not less than seven nor more than fifteen directors, and
to elect or appoint the necessary officers, and generally to
execute and enforce all and singular such acts, contracts,
matters and things as may be necessary to carry out the object
and protect the interests of said corporation.

SEC. 2. And be it further enacted, That the capital stock of
said corporation shall consist of four thousand shares of
twenty-five dollars each, and the said corporation is hereby
authorized to begin business when stock to the amount of
twenty-five thousand dollars is subscribed and paid in, and
the said corporation shall have the right at any time to increase
its capital stock to one million dollars or less at the par value
of twenty-five dollars a share, and the said stockholders shall
be liable to the amount of their respective shares of stock for
all debt and liabilities of said corporation upon note, bill or
otherwise.

SEC. 3. And be it further enacted, That the said corporation
is hereby empowered to exercise, by its board of directors or
duly authorized officers or agents, all such incidental powers
as shall be necessary to carry on the business of banking by
discounting and negotiating promissory notes, drafts, bills of
exchange, and other evidences of debt, by receiving deposits,
by borrowing money, by buying and selling exchange, stocks,
bonds, coin and bullion, and by lending money on personal or
other security, and shall have the power to receive money on
deposit for savings accounts or otherwise on such terms as
may be agreed upon; to own and control and to let out burglar
vaults, safes, safe deposit boxes and other receptacles; pro-
vided, however, that the said company shall be subject to the
provisions of Article 11 of Public General Laws of the State,
title "Banks," and any amendments thereof, and the liability
of the stockholders thereof shall at all times be determined by
the laws of the State in force at the time the said liabilities
may attach; and further provided, that said company shall
not be subject to Article 3, Section 25, of said Article 11.

SEC. 4. And be it further enacted,, That this Act shall take
effect from the date of its passage.

Approved April 11, 1910.

CHAPTER 634.

AN ACT to extend the privileges, enlarge the powers and
amend the charter of the Taneytown Savings Bank, so as to
enable it to loan money on or to purchase promissory and
negotiable notes, bills obligatory or other evidences of debt,