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EDWARD LLOYD, ESQUIRE, GOVERNOR.
shall commit any fraud or embezzlement, touching the money or
property of the bank, shall be liable to be prosecuted in the name
of the state, by indictment, for the same, in any court of law in
this state, and upon conviction thereof shall, besides the remedy
that may be had by action in the name of the president and directors
of the Elkton Bank of Maryland for the fraud aforesaid, forfeit
all his share or stock in the said bank to the company. |
1810.
CHAP. 51.
fraud or embezzlement. |
24. AND BE IT ENACTED, That all persons who
shall become subscribers
to the said bank, their successors and assigns, shall be and
are hereby made a corporation and body politic, by the name and
style of The President and Directors of the Elkton Bank of Maryland,
and by that name shall be and are hereby made able and
capable in law to sue and be sued, plead and be impleaded, answer
and be answered, defend and be defended, in any court of record,
or any other place whatsoever, and also to make, have and use, a
common seal, and the same to break, alter and renew, at pleasure,
and to make, issue and negotiate notes, and generally to do and
execute all such acts, matters and things, as to them shall appertain
under the clauses of this act. |
Subscribers incorporated. |
25. AND BE IT ENACTED, That the treasurer
of the western
shore, for the time being, shall be furnished, once in every year,
or oftener if required, with statements of the amount of the capital
stock of the said corporation, and of the debts due to and from the
same, of the monies deposited therein, of the notes in circulation,
of the cash in hand, and of the profits made, and shall have a right
to inspect such general accounts in the books of the bank as shall
relate to the said statements, but nothing herein contained shall be
construed to imply a right of inspecting the account of any private
individual or individuals with the bank, nor shall such general
statement and power of inspection be used for any other purpose
than to enable him to form a just opinion of the state of the institution,
relative to the public safety, and of the profits thereof, over
which he is hereby appointed guardian, as far as the same relates
to the state. |
Treasurer of W.
S. to be furnished
once a year with
statements of the
accounts of bank. |
26. AND BE IT ENACTED, That no loan shall
be made by the
said corporation for the use or on account of this state, or the United
States, or of any particular state, to an amount exceeding ten
thousand dollars, or to any foreign prince or state whatever, without
the previous consent of the legislature; that the capital stock
and funds of the bank shall be deemed and taken to be personal and
not real estate. |
No loan exceeding
10,000 dollars, to
be made without
consent of legislature. |
27. AND BE IT ENACTED, That the following
rules and provisions
shall form and be fundamental articles of the constitution of
the said corporation: |
Fundamental articles. |
1. That the capital stock of the Elkton Bank
of Maryland shall
be managed by the directors for the joint benefit of the stockholders,
and the benefit of the state of Maryland, if the state shall become
interested. |
Capital stock to
be managed for
benefit of stockholders. |
2. No director of any other bank shall be
a director in this bank,
nor shall any two persons, copartners in any kind of business, be
directors in this institution at the same time; three at least of the
directors elected by the stockholders hall go out annually. |
No director of
any other bank to
be a director in
this. |
3. The president and directors for the time
being shall give one
month's notice in the most public places in the county, and in some |
Notice of election
of directors to be
given. |
VOL. II.
46
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