364 LAWS OF MARYLAND [CH. 107

and service connected therewith; provided, however, that it is not
the intention hereof to take from banking organizations any such
loans or commitments as may be desired by such organizations gen-
erally in the ordinary course of their business; and provided further
that the interest rate or interest charge to any person, firm, corpora-
tion or association who or which shall be granted a loan by such
corporation shall never be less than the rate of interest being
charged by financial institutions in the economic regions where the
loan is to be granted. [The going rate of interest prevalent as afore-
said shall be certified by the loan committee for that economic region
wherein the loan is to be granted, and such certificate shall be satis-
factory evidence thereof for the purposes herein provided. ]

3. To purchase, receive, hold, lease, or otherwise acquire, and to
sell, convey, mortgage, lease, pledge, or otherwise dispose of, upon
such terms and conditions as its board of directors may deem advis-
able, real and personal property, together with such rights and
privileges as may be incidental and appurtenant thereto and the use
thereof, including, but not restricted to, any real or personal property
acquired by such corporation from time to time in the satisfaction
of debts or enforcement of obligations.

4. To acquire the good will, business, rights, real and personal
property and other assets, or any part thereof, of such persons,
firms, corporations, joint stock companies, associations or trusts as
may be in furtherance of the corporate purposes provided herein;
and to assume, undertake, guarantee or pay the obligations, debts
and liabilities of any such person, firm, corporation, joint stock
company, association or trust; to acquire improved or unimproved
real estate for the purpose of constructing industrial plants or other
business establishments thereon or for the purpose of disposing
of such real estate to others for the construction of industrial plants
or other business establishments; and, in furtherance of the corporate
purposes provided herein, to acquire, construct, or reconstruct, alter,
repair, maintain, operate, sell, lease, or otherwise dispose of in-
dustrial plants, industrial sites, business establishments or business
sites.

5. To acquire, subscribe for, own, hold, sell, assign, transfer,
mortgage, pledge or otherwise dispose of the stock, shares, bonds,
debentures, notes or other securities and evidences of interest in,
or indebtedness of, any person, firm, corporation, joint stock com-
pany, association or trust, and, while the owner or holder thereof,
to exercise all the rights, powers and privileges of ownership, includ-
ing the right to vote thereon.

415.

(b) At the first annual meeting of such corporation and at each
annual meeting thereafter, the members of such corporation from
at least three of the [five] economic regions as [defined in] estab-
lished under the provisions of Section 413 of this sub-title, shall elect
ten directors not more than two directors and not less than one
director to be from each of the [five] economic regions so established,
for a term of one year. [Such] Each of such directors shall be resi-
dents of such regions as aforesaid or maintain a regular place of
business therein.