18

BANKS. [ART. 12.

five directors thereof elect, are hereby appointed com-
missioners, with authority to establish a banking insti-
tution in their now locality, or any other within the
state, and under their present style so modified, how-
ever, by omitting the word "national" where now
existing as to represent a state institution, and, when
deemed necessary or advisable, to adopt a new style
altogether.

Ibid s. 2.

26. The said institution, under the name and style
adopted, is hereby made able and capable in law to sue

Powers
granted.

and be sued, plead and be impleaded, answer and be
answered, defend and be defended, in courts of record
or any other place whatsoever ; to make, have and use
a common seal, and the same to break, alter and renew
at their pleasure, and generally to do and execute all
and singular such acts, matters and things as a corpo-
ration or body politic may and can lawfully execute.

Ibid. s. 3.

27. The capital stock of said corporation, when
located in the city of Baltimore, shall consist of not

Capital stock
in city of Balti-
more

less than three hundred thousand dollars, divided into
shares of one hundred dollars each, with the privilege
of so increasing from time to time the number of shares
to in all twenty thousand, thus making the entire capi-
tal stock two million dollars; and when three hundred
thousand dollars of said capital stock shall have been
full paid, in the " lawful money of the United States,"

Certified to
comptroller.

and so certified by a majority of the said commission-
ers or directors to the treasurer and comptroller of the
state, and a certificate of their so organization be trans-
mitted to the clerk of the court of appeals, to be by
him recorded among the records of his office, and not
before, shall they be entitled to all the benefits and
privileges herein conveyed or intended to be conveyed.

Ibid. s. 4
Capital stock
in state.

28. The capital stock of said corporation, when
located other than in the city of Baltimore, shall con-
sist of not less than fifty thousand dollars, divided into
shares of one hundred dollars each, with the privi-
lege of so increasing, from time to time, the number
of shares to in all five thousand, thus making the entire
capital stock five hundred thousand dollars ; and when