1760

LAWS OF MARYLAND

[Ch. 311

(1)    MAKE ANY CONTRACT NECESSARY AND PROPER TO
EFFECT ITS PURPOSE AND CONDUCT ITS BUSINESS;

(2)   SUE, BE SUED, COMPLAIN, AND DEFEND UNDER ITS
CORPORATE NAME IN ALL COURTS;

(3)   HAVE, USE, ALTER, AND ABANDON A CORPORATE SEAL;

(4)    ELECT, APPOINT, AND DISMISS OFFICERS, AGENTS,
AND EMPLOYEES, DEFINE THEIR DUTIES AND OBLIGATIONS, SET
THEIR COMPENSATION, AND REQUIRE SURETY BONDS OF THEM;

(5)     ADOPT, AMEND, AND REPEAL BYLAWS AND
REGULATIONS, NOT INCONSISTENT WITH THE LAW AND ITS
CHARTER, FOR:

(I) ITS GOVERNMENT;

(II)    THE ORDERLY CONDUCT OF ITS AFFAIRS AND
MANAGEMENT OF ITS PROPERTY;

(III)   DETERMINING THE MANNER OF CALLING AND
CONDUCTING ITS MEETINGS;

(IV)    THE TENURE OF OFFICE OF ITS OFFICERS;
AND

(V)   OTHER MATTERS AS NECESSARY OR CONVENIENT
TO ACCOMPLISH ITS PURPOSE;

(6)    EXERCISE ALL THE POWERS USUAL IN CARRYING ON
THE BUSINESS OF BANKING BY:

(I)   PURCHASING, DISCOUNTING, AND NEGOTIATING
FOREIGN AND DOMESTIC PROMISSORY NOTES, BONDS, DRAFTS, AND
OTHER EVIDENCES OF DEBT;

(II)    RECEIVING DEPOSITS OF MONEY ON WHICH
INTEREST MAY BE PAID;

(III)    PURCHASING AND SELLING COIN AND
BULLION;

(IV)     PURCHASING AND SELLING FOREIGN AND
DOMESTIC EXCHANGE;

(V)   SUBJECT TO THE PROVISIONS OF ARTICLE 11,
§31(A), ACCEPTING DRAFTS DRAWN ON THE STATE BANK;

(VI)     ISSUING       LETTERS OF CREDIT WHICH
AUTHORIZE THE HOLDER TO DRAW   DRAFTS ON THE STATE BANK OR
ITS CORRESPONDENTS AT SIGHT   OR ON TIME NOT EXCEEDING ONE
YEAR;