GEORGE HOWARD, ESQ. GOVERNOR.

16S1.

Bougher, Andrew Annan, Joseph Welty, Joseph Danner,
Samuel Boumgardner, Samuel Duphorn, Joseph Bougher,
Jacob Troxel, Isaac Wilson, Joshua Motter, Benjamin
Shunk, Andrew Eyster, Frederick Black, John Duphorn,
William Gamble, and all and every other person or persons,
hereafter becoming members of the Savings Institution of
Emmitsburg, in the manner hereafter mentioned, shall and
are hereby created and made a corporation and body poli-
tic, by the name and style of the Savings Institution of Em-
mitsburg, and by that name shall be in force until the year
eighteen hundred and forty-five, and until the end of the
then session of the Legislature, and be capable by law to
hold property, sue and be sued, plead and be impleaded,
answer and defend, and be answered and defended, in
courts of law and equity, or in any other place whatever,
and to receive and make all deeds, transfers, contracts, cov-
enants, conveyances and grants whatsoever, and to make,
have and use, a common seal, and the same to change and
renew at pleasure, and generally to do every other act or
thing necessary to carry into effect the provisions of this
act, and promote the design of said corporation.

CHAP. 155.

Sec. 2. And be it enacted, That the said corporation shall
annually, on the first Monday in May, in the Town of Em-
mitsburg, or at such other time or place, as by the by-laws
or regulations hereafter to be adopted, may be appointed,
elect from the members of said corporation, nine directors
to serve for the term of twelve months, or until others shall

Election of direc-
tors.

be chosen, who during their term of service, shall have the
sole management and direction of the concerns of said cor-
poration, elect a president from their own body, and be au-
thorized to make from time to time, as they may deem ex-
pedient, such by-laws or other rules, for the regulation and
government of themselves and the numbers of the said
corporation, and the same to change, add to, or amend as
may appear necessary or proper; Provided always, That
such by laws or rules, be not contrary to the constitution
and laws of the United States, or of the state of Maryland.

Their powers.

Sec. 3. And be it enacted, That the first five named per-
sons or members, or a majority of them, shall be judges ot
the first election of directors, and the judges of all future
elections shall be appointed, and notice of such elections
given in such manner as the by-laws shall provide.

Judges of elections

Sec. 4. And be it enacted, That the said corporation shall
be capable of receiving from any free person or persons,
such deposit or deposits of money as shall be provided for
by the by-laws of said institution, and that all monies so
received, shall be invested in public stock, or any other se-

Deposits.
Investments.