The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1910-07-22
THE HAVRE DE- GRACE
BANKING AND TRUST
COMPANY.
CHAPTER II.

CHAPTER II.
AN ACT to Incorporate THE llavre tie
TRACE Banking and Trust Company"
SkcTIoN l. lie 1t enacted by the Gen.
rial Assembly of Maryland that Murray
Nandiyer, James ii. Pahcy, Isaac Hecht.
David A. Fisher, Bernard Levy. Joseph
-, Parker and Lee ]. Hrcht, and all other
'ersons who shall hereafter become stock
folders in the Company hereby incorpor.
lted. shall he body corporate by the
Iame and style OF THE Havre de Grace
tanking and Trust Company" and by
hat ma ne shall have perpetual success.
ion AMI sue and be sued In any Court
whatever.
SRCTInN 2. And he It enacted, that
he capital stock Of said Company shall
consist Of five hundred shares Of FIFTY
Dollars each. with the privilege to IT,
tease the same from time to time, b,
Iote of the stock holders at special meet.
~ or meetings to be called tor that pur
,ose to a sum not exceeding Two Hun.
lred aud Fifty Thousand Dollars; and
he incOrporators. or q majority OF them
name In this Act, shall have power to
Iprn books OF subscription at such times
aud places as they may deem expedient
md they shall have power to compel all
subscribers to said stock to subscribe and
pay therefor at par, or at such sum
above par as they may decide; and when
all Of said Five Hundred sha al, shall have
becn subscribed, AMI when fifty per
centum thereon has been paid IN, the
tock holders may elect eleven directors
to serve 1.-THE ensuing annual election.
or until their successors have been duly
elected and qualified: and the directors 81
elected OF said Company, when II shall
have been organized, may, and they are
hereby authorized and empowered, to
have and to exercise In the name and ON
behalf Of the Company. all rights and
privileges winch are intended To he here
by given; and should the capital stock
rom time to time. or at any time or
times he increased ne stock holders at The
time Of such Increase or increases shal he
.ntithd to sui scribe to II pro rata share
OF such increase or increases upon the
pay ment Ot such price at par or above
par for said stock as may he determined
upon by vote ot the majority of stock.
holders of the said corporation at the
dine OF such incrt as. or Increases and ia
.ase Of the failure Of any Of the stock.
holders to subscribe ana pay Tor their
pro rata share Of said stock at the price
named In the said resolution or resolu.
ions. land within he time limited and
hIed under said resolution or resolulions)
chen the Board of Directors shall have
the power to 81 II said stock for cash to
such persons or corporation az they may
zee fit, not, however. under price fixed In
,aid resolution or resolutions.
StcTIoN 3. And he II enacted, That
tie directors shall be elected annually by
the stock. holders on the second Tuesday
In July OF every year, and the Directors
sball elect at the first meeting Of the
Board after their election, as pre-
scribtd by the second aection oi
this Act. and after all subsequent cleo.
tons, a President and such Vice Presi-
dents AS they may see fit; and shall also
have po wer to elect Secretary or such
assistant secret aries and a treasurer or
such assistant treasurers as they may
see fit, and said Secretary and Treasure, !
may be one person, and any assist ant
secretary or treasurer may I've one person,
and to app lint and employ such other
officers. clerks and agents AZ the business
of the said Company from time To time
requires: all elections shall be by ballot,
aud at such annual me things Of thr stock.
holders and all other meetings of stock.
holders every stakeholder shall he en-
titled to one vote for every share Oi
stock held by him, but no person shall
I've eligible as director who 10 not "A stock.
holder to the amount Of live shares Of
stock
SEcTIOs 1. And I've II enacted. That
the said Comp lnv shall have power to
receive and hold on de p jsit, IN trust and
as security and estate or property, real,
personal. or mixed. including cash, notes,
bonds aud obligations Of States, Com.
panies. Corporations, and individuals,
and the same to purchase, collect. adjust,
settle. sell and dispose Of and upon srch
terms rs may he agreed upon bet ween
them and the parties contracting with
them and said Company shall have
power to receive money subject to check.
to buy and sell exchange, both domes,ic
and foreign, stocks, bonds, coin and
bullion, and to lend money on personal
or other security.
SgcTmN e. And he II enacted, That
the said Company be and Ia hereby
authorized to act as trustee Ia or under
mortgage, bond or other instrume Mt of
evidence OF debt issued by any municipal
ity, body polite or corporation of the
United States of America or of any
state, or Of any one OF the United States.
or 0f any colony. province or dependency
Of the United States, or Of any foreign
country or government. or any colony,
province, department, city or county Of
any foreign country; and TO accept aud
execute trusts of every description AS
fully as IA natural person could, which
may be committed or transferred with
its consent to II by any person or ne Tsons
whomsoever. bodies corporate or polite,
whenever dOmIciled, organized or doing
business, or which NAV be committed to
IL by ANY Court In the State Of Mary.
land. In the Ilnited States, in any one Of
the States Of the United States, or In
any colony, .Urovince or dependency Of
the iInited States. or which may he
committed to 1t by any court IN any
foreign country or government, or in any
colony. province. department, city or
county of any foreign government; and
to accept the Office and appointment Of
executor or administrator Of any kind or
nature whenever such Office or appoint.
ment 10 made by any person or persons
or by any Orphans Court or other curt,
either Of the State Of Maryland or any
other State, or of the United States, or
Of any colony. province. or dependency
Of the United States or offoreign country
or government or Of any colony, pro.
vince, department, city or county Of any
foreign government; and that In all cases
where application shall be made to any
Court OF this State or any other State OF
the United States, or Of any foreign
country or government. or fanny colony,
province. department, city or county Of
any foreign government for the appoint.
nient OF any receiver. curator, trustee,
administrator, executor. assignee. guard.
Ian. committee or any other fduciary, IL
shall and may he lawful for such Courts,
II II shall think ct. to appoint THE
Havre de Grace Banking and Trust c om.
pany." with the assent. such receiver,
curator, trustee, adninistratO OF, executor,
assignee, guardian. committee or other
fiduciary, and the accounts Of said com.
pany. as such receiver. curator, trustee,
administrator, executor, assignee, guard
ian, committee. or the judiciary, shall he
regularly adjusted and settled before the
tribunal having Jurisdiction thereof. and
upon such settlement and adjustment all
proper. legal and customary charges,
costs and ex penses shall be allowed to
said Company for lite care and manage.