1837.

LAWS OF MARYLAND.

CHAP. 53.

but in all cases where money shall be loaned by the
said company, on bond or mortgage, or other security,
in any State other than the State of Maryland, it shall
be lawful for the said company to receive such rate of
interest upon such loans as is permitted to be received
by the laws of such State, and no more.

Real Estate.

SEC. 8. And be it enacted, That the real estate
which the said company shall be authorised to hold,
shall be only such as shall be necessary for the conven-
ient transaction of its business.

President and
twenty-three
trustees.

SEC. 9. And be it enacted, That the corporate pow-
ers of the said company shall continue to be exercised
by the President and twenty-three trustees, and by
such officers, agents and servants as they shall ap-
point; the President and Trustees shall hold their offi-
ces during good behaviour, and in case of vacancies

Vacancies.

occurring at any time by the death, resignation or oth-
erwise, of the President or any of the Trustees the same
shall be filled by the election of the Stockholders at
a meeting to be called by the Trustees for that purpose
upon at least ten days notice, and at every such elec-
tion each share of stock shall be entitled to a vote, and
a plurality of the votes given shall be sufficient for a
choice.

Qualification.

SEC. 10. And be it enacted, That every Trustee so
appointed shall be a stockholder to the amount of fifty
shares at least, and that the seat of every Trustee who-
may cease to be a stockholder to the amount of fifty
shares, shall be declared vacant.

Removal of
trustees.

SEC. 11. And be it enacted, That any President or
Trustee may at any time for cause satisfactory to the
Chancellor, or Baltimore county court, be removed upon
the application of a majority of the stockholders to
the chancellor, or to Baltimore county court sitting
as a court of equity, and the chancellor or Baltimore
county court, sitting as a court of equity, shall have
the like power to remove a Trustee upon the applica-
tion of a party interested, as a court of equity has in
any cases of trustees, and the said trustees shall be
subject to the same responsibilities as trustee appointed
by a court of equity or by act of parties.

Right of inspec-

tion.

SEC. 12. And be it enacted, That the concerns of
this institution shall be at all times subject to the in-