1832.

LAWS OF MARYLAND.

CHAP. 33.

capable by law, to hold and dispose of property, to sue
and be sued, plead and be impleaded, answer and defend,
and be answered and defended, in courts of law and
equity, or in any other place whatever, and to receive and
make all deeds, transfers, contracts, covenants, convey-
ances, and grants, whatsoever, and to make, have, and use
a common seal, and the same to change and renew at
pleasure, and generally to do every other act or thing ne-
cessary to carry into effect the provisions of this act, and
to promote the object and design of said corporation.

Election of dine.

Sec. 2. And be it enacted, That there shall be a meet-
ing of the members of the said Patapsco Savings Institu-
tion, on such day in the month of April next, and at such
place as the five first named persons in this act, or a ma-
jority of them shall appoint and give written notice thereof,
to each member, at least five days previous to said meet-
ing, and on such day in the month of April, and at such

place annually thereafter, as the by-laws of the Institution
shall provide, for the purpose of chosing from among the
members, nine Directors, to manage the affairs of said In-
stitution for twelve months thereafter, and until a new
Election shall take place; Provided, that such election shall
be made within one month from the expiration of the term
for which the preceding directors shall have been elected,

jority of them, shall be judges of the first election of Di-
rectors, and the judges of all future elections shall be ap-
pointed, and notice of such election given, in such manner
as the by-laws shall provide.

Sec. 3. And be it enacted, That the Directors, for the
time being, or a majority of them, shall have power to
elect a president from their own body, or from among the
others mentioned; to appoint all such officers, agents, and
servants, as they shall deem necessary to conduct, or exe-
cute the business and affairs of the Institution, to fix their
compensation, and in their discretion to dismiss them; to
provide for the taking of bonds to the corporation, from
all or any of the officers, agents, or servants, by them so
appointed, with security, conditioned in such form *as they
shall prescribe, for the faithful execution of their several
duties, and to secure the corporation from loss; to regu-
late the manner of making and receiving deposits; the
form of certificates to be issued to depositors, and the
manner of transferring the same; to provide for the invest-
ment of the funds of the Corporation in such manner as

Admit members.

they shall deem most safe and beneficial; to provide for the