500

LAWS OF MARYLAND.

first Monday of April next, in the city of Annap-
olis, at such time and place as they shall deter-
mine, and on the first Monday of April every
year thereafter, at such hour and at such place
in said city as may by the by-laws be directed,
and that all other meetings of said company,
shall be called and held in such manner and at
such times and places as may be ordained by the
by-laws, rules or regulations of said company.

Property an-
swerable for li-
abilities.

SEC. 6. And be it enacted, That said company
shall be authorised to hold real estate not exceed-
ing ten thousand dollars in value, and that all
the property, estate and joint stock of said cor-
poration, shall be bound and answerable for its
debts and liabilities, but the stockholders shall
not be responsible for such debts or liabilities be-
yond the amount of the stock they respectively
own.

Authorised to
lease or rent.

SEC. 7. And be it enacted, That said company
shall be authorised to rent or lease its property
for such times and on such terms as it may think
proper, and to sell its property, real or personal,
whenever they may deem best, and that the
agreement for such leasing or renting, shall be
executed by the president and secretary of the
company, and acknowledged agreeably to law ;
when so executed and acknowledged, shall be
valid and effectual for all the purposes of said in-
struments.

Banking pri-
vileges prohib-
ited.

SEC. 8. And be it enacted, That nothing herein
contained, shall be construed as granting bank-
ing privileges to the said company, and this act
shall take effect from the date of its passage.