684 LAWS OF MARYLAND. [CH. 309

23. Upon making and filing of the articles of incor-
poration, and upon the payment of the bonus and other
taxes required by the laws of this State, the bank shall
become a body corporate and as such shall have the fol-
lowing powers:

First. To make all contracts necessary and proper to
effect its purpose and conduct its business.

Second. To sue and be sued, to appear and defend in
all actions and proceedings under its corporate name to
the same extent as a natural person.

Third. To have a common seal and to alter the same
at pleasure.

Fourth. To elect or appoint all necessary officers, agents
and servants, define their duties and obligations, fix their
compensation, dismiss them, fill vacancies and require
bonds.

Fifth. To make, amend and repeal by-laws and regu-
lations, not inconsistent with law or its articles of organi-
zation, for its own government, for the orderly conduct of
its affairs and the management of its property, for deter-
mining the manner of calling and conducting its meetings,
the tenure of office of its several officers, and such other
matters as shall be necessary or convenient for the accom-
plishment of its purpose.

Sixth. To exercise, by its directors, duly authorized
officers or agents, all such powers as shall be usual in
carrying on the business of banking; by buying, discount-
ing and negotiating promissory notes, bonds, drafts, bills
of exchange, foreign and domestic, and other evidences of
debt; by receiving deposits of money upon which interest
may be paid; by buying and selling coin and bullion; by
buying and selling exchange, foreign and domestic; by
accepting for payment at a future date, drafts or bills of
exchange drawn upon it, having not more than six months
to run, which grow out of transactions involving the
importation or exportation of goods, or which grow out
of transactions involving the domestic shipment of goods,
provided shipping documents conveying or securing title
are attached at the time of acceptance, or which are
secured at the time of acceptance, by a warehouse receipt
or other such documents conveying or securing title cov-
ering readily marketable staples; by accepting drafts or
bills of exchange drawn upon it having not more than
three months' sight to run, by banks or bankers in foreign