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LAWS OF MARYLAND.

Capital stock.

SEC. 3. And be it enacted, That the capital stock of
said corporation shall consist of not less than fifteen
hundred, nor more than ten thousand dollars, and shall
be divided into shares of fifty dollars each, and the
shares of said capital stock shall be made and assigna-
ble or transferable as may be provided for by the by-
laws of said company, and shall be considered personal
property.

Management.

SEC. 4. And be it enacted, That for the manage-
ment of the affairs of said company, the stockholders
shall elect a board of directors consisting of such num-
ber as they may think proper, and such other officers
as they may deem expedient, who shall remain in of-
fice one year, or until others shall be elected; vacan-
cies may be filled in the board of directors by those re-
maining, and the persons so chosen to fill such vacan-
cies shall serve until the next succeeding meeting of
the stockholders.

Meetings.

SEC. 6. And be it enacted, That the meetings of
said company shall be called and held in such manner
and at such times and places as may be ordained or
established by the by-laws, rules or regulations of said
company.

Property an-
swerable for
debts.

SEC. 6. And be it enacted, That all the property,
estate and joint stock of said corporation, shall be
bound and answerable for its debts and liabilities.

Banking for-
bid.

SEC. 7. And be it enacted, That nothing herein
shall be construed as granting banking privileges to the
said corporation.

In force.

SEC. 8. And be it enacted, That this act shall take
effect from the date of its passage.