1414

LAWS OF MARYLAND.

directors may elect a successor, who may or may not be a stock-
holder to the amount of at least ten shares of stock. All elec-
tions shall be by ballot, and at such elections each stockholder
shall be entitled to one vote for each share of stock held by
him, but no person shall be eligible as a director who is not a
stockholder to the amount of at least ten shares of stock.

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

Approved April 1, 1910.

CHAPTER 319.

AN ACT to incorporate the Hebron Savings Bank.
SECTION 1. Be it enacted by the General Assembly of Mary-
land, That Marion N. Nelson, George W. Holliday, Levin B.
Weatherby, James A. Waller, William Gillis, William H.
Phillips, Albert W. Sisk, J. Davis Phillips, W. Frank Howard,
George C. Bounds, and all other persons who shall hereafter
become stockholders in the company hereby incorporated,
shall be a body corporate by the name and style of "Hebron
Savings Bank," and by that name shall have perpetual suc-
cession and sue and be sued in any Court whatever, and be
capable in law to hold and dispose of property, both real and
personal; to receive and make all deeds, transfers, contracts
and conveyances whatever; to have and use a common seal,
and the same to change, alter and renew at pleasure, and
generally to do every other act or thing necessary to carry into
effect the provisions of this Act, and to promote the objects and
designs of said corporation.

SEC. 2. And be it enacted, That the capital stock of the
said corporation shall be ten thousand dollars ($10,000) in
shares of twenty-five dollars ($25) each, to be paid as the
shareholders may determine, and privilege is hereby granted
to said corporation to increase the capital stock to any
amount not exceeding twenty-five thousand dollars ($25,000)
whenever it shall be so determined by the unanimous vote of
the board of directors.

SEC. 3. And be it enacted, That the affairs of said corpora-
tion shall be managed by a board of ten directors, who are to
be elected annually in the month of January by the stock-
holders, and that the first directors of said corporation shall
be elected by the persons named in the first Section of this Act
within ninety days from the date of this Act; that the directors
thus first elected shall serve until the annual meeting in Janu-
ary following; that the directors shall, within ninety days
after the passage of this Act, and annually in the month of