1845.

LAWS OF MARYLAND;

CHAP. 116.

collateral security for any money loaned or advanced
thereupon, except for bad or doubtful debts previously
contracted.

Give 6 weeks

notice of hold-
ing election.

ART. 3. The president and directors for the time be-
ing, shall give six weeks public notice in two or more
daily papers published in the city of Baltimore, of the
time and place of holding the annual election of directors,
and of all general meetings of the stockholders.

President fail
to appoint, the
directors may
make the ap-
pointment.

ART. 4. Should the president fail to appoint a substi-
tute as provided for in the eighth fundamental article of
the Merchants Bank, the board of directors may make
the appointment.

No effect un-
til stockhold-
ers assent.

SEC. 2. And be it enacted, That this act shall have
no effect whatever until the stockholders, at a general
meeting, called for the purpose of considering its provi-
sions, on or before the first Monday in July next, shall
by resolution, assent thereto, and authorise the president
and directors to transmit their resolution of acceptance,
under the seal of the bank, to the Governor to be filed
in the Executive Department.

CHAPTER 116.

Passed Feb.
11, 1846.

An act to incorporate the Ilchester Manufacturing Com-
pany of Maryland.

Incorporated.

SECTION 1. Be it enacted by the General Assembly of
Maryland, That George Ellicott, William H. Iglehart,
Andrew Ellicott and Nathaniel H. Ellicott, their asso-
ciates, successors and assigns, be and they are hereby

Name & style.

created a corporation and body politic, by the name and
style of the Ilchester Manufacturing Company, and by
that name may have perpetual succession, and shall be
able and capable in law to sue and be sued, plead and"

Corporate
powers.

be impleaded, answer and be answered in any court of
law or equity, and to make and use a common seal, and
to ordain and establish such by-laws and regulations as
shall be necessary or convenient for conducting the af-
fairs of the corporation, and not repugnant 1o law.

Objects of in-
corporation.

SEC 2. And be it enacted, That the objects of the
said corporation are declared to be the making and manu-
facturing and trading in flour, cotton, wool and other
articles, for which purpose they are hereby authorised
to purchase, hold and sell land in fee simple or other-