1096                           LAWS OF MARYLAND                      [CH. 492

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 bylaws and regulations, not
inconsistent with law or its articles of organization, for its own gov-
ernment, for the orderly conduct of its affairs and the management
of its property, for determining the manner of calling and conduct-
ing its meetings, the tenure of office of its several officers, and such
other matters as shall be necessary or convenient for the accomplish-
ment 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, discounting 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 buy-
ing 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 trans-
actions 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 accept-
ance, by a warehouse receipt or other such document conveying or
securing title covering 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 countries or
dependencies or insular possessions of the United States for the pur-
pose of furnishing dollar exchange as required by the usages of
trade in the respective countries, dependencies or insular possessions,
provided that it shall not accept such drafts or bills of exchange for
the purpose of furnishing dollar exchange for any one bank or banker
to an amount not exceeding in the aggregate 10 per centum of the
paid-up and unimpaired capital and surplus of the accepting bank
unless the draft or bill of exchange is accompanied by documents
conveying or securing title or by some other adequate security, and
provided further that it shall not accept such drafts or bills of ex-
change for the purpose of furnishing dollar exchange in any amount
exceeding at any time the aggregate of one-half of its paid-up and
unimpaired capital and surplus; by issuing letters of credit, author-
izing the holders thereof to draw drafts upon it for its correspond-
ents at sight or on time not exceeding one year; subject to rules and
regulations which may be issued from time to time by the Commis-
sioner [, and only until June 1, 1967,] by becoming the owner and
lessor of personal property (other than leasehold interests in real
estate) acquired upon the specific request of and for the use of a
customer; provided, however, that the overall aggregate of such
property purchased for the use of any one customer shall not exceed