Exhibit 5.1
| Tallahassee Office | IGLER & DOUGHERTY,P.A. | Tampa Office | ||
_______
2457 Care Drivet Tallahassee, Florida 32308 (850) 878-2411 - Telephone (850) 878-1230 - Facsimile e-mail: idhlaw@nettally.com |
ATTORNEYS AT LAW _______
REPLY TO: TALLAHASSEE OFFICE | ______
500 N. Westshore Blvd, Suite 1010 Tampa, Florida 33602 (813)289-1020 - Telephone (813) 289-1070 - Facsimile e-mail: idhlaw1@mindspring.com | ||
| August 2, 2004 | ||||
Board of Directors
Marco Community Bancorp, Inc.
1770 San Marco Road
Marco Island, Florida 34145
| RE: | Marco Community Bancorp, Inc.’s Registration Statement on Form SB-2 for |
the Registration of 265,000 Shares of Common Stock
Ladies and Gentlemen:
We have acted as counsel for Marco Community Bancorp, Inc. (“MCBI”) in connection with the proposed public offering of 265,000 shares of its $0.01 par value common stock and 265,000 warrants to purchase 265,00 shares of its $0.01 par value common stock covered by the above-described registration statement.
In connection therewith, we have examined the following:
| • | The Articles of Incorporation of MCBI, as filed with the Secretary of State of the State of Florida; |
| • | The Bylaws of MCBI; |
| • | A Resolution of MCBI’ Board of Directors, certified as correct and complete by the President of MCBI, authorizing the sale of up to 265,000 units consisting of 265,000 shares of common stock and 265,000 warrants to purchase one share of common stock; |
| • | Certificate of Active Status with respect to MCBI, issued by the Secretary of State of the State of Florida; and |
| • | The registration statement, including all exhibits thereto. |
Board of Directors
Marco Community Bancorp, Inc.
August 2, 2004
Page 2
Based upon such examination and upon examination of such other instruments and records as we have deemed necessary, we are of the opinion that:
| • | MCBI has been duly incorporated and is validly existing under the laws of the State of Florida. |
| • | The 265,000 shares of common stock, the 265,000 stock purchase warrants and the 265,000 share underlying the warrants covered by the registration statement have been legally authorized and when issued in accordance with the terms described in said registration statement, will be validly issued, fully paid and non-assessable. |
We consent to the filing of this opinion as an exhibit to the aforementioned registration statement on Form SB-2 and to any amendments thereto. We also consent to the reference to this firm under the caption “Legal Matters” in the prospectus. In giving this consent, we do not thereby admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act of 1933, or the rules and regulations of the Securities and Exchange Commission thereunder.
Sincerely,
IGLER & DOUGHERTY, P.A.
/s/ H.D. Haughton
