1494 LAWS OF MARYLAND.

appoint and employ such other officers and agents as the busi-
ness of such corporation from time to time may require. All
elections shall be by ballot, each share of stock being entitled
to vote. All such elections and at all meetings of stockholders
every stockholder shall be entitled to one vote for every share
of stock held by him, but no person shall be eligible as a direc-
tor who is not a stockholder to the amount of ten shares of
stock.

SEC. 4. And be it further enacted, That ten days' notice shall
be given by publication in one or more newspapers published in
Frederick city of the time and place of said annual election,
which annual election shall be conducted by three stockholders
to be selected by the body of stockholders, one of whom shall
be designated to act as judge, the other two as inspectors.

SEC. 5. And be it further enacted, That the directors shall
have the power to declare such dividends of the profits of said
corporation as they may deem proper; provided, that no divi-
dend shall be declared when the capital stock would be im-
paired thereby.

SEC. 6. And be it further enacted, That the directors of the
corporation hereby created shall have power to enact and
adopt such rules and regulations and by-laws for the gov-
ernment and management of the affairs of said corporation as
they may deem advantageous to the interests thereof, provided
the same be not contrary to law.

SEC. 7. And be it further enacted. That the said corporation
be and is hereby authorized and empowered to take the man-
agement, custody, control and charge of property, real, per-
sonal or mixed, on such terms and all such powers of sale or
other disposition thereof as by the charter and by-laws of this
company or by agreement in writing between the said company
and the person or persons to whom advances as aforesaid may
be made, and the said corporation shall be and is hereby au-
thorized either for itself or as agent, to buy, sell, lease or
otherwise acquire or hold real or personal property in the
State of Maryland or elsewhere, as fully and completely as
a natural person, and to improve or repair the same, as may
appear expedient, by laying out and grading streets and also
by the erection of buildings for dwellings or business pur-
poses, with the idea of sale, mortgage or lease of the same and
the said corporation shall be and is hereby authorized to loan
money upon purchase, sale, or issue bonds or mortgages or de-
benture bonds upon the security of real or personal estate
in the State of Maryland or elsewhere; to loan money upon
real or personal securities, to loan money and make advances