| 1810. |
LAWS OF MARYLAND.
case may be, shall cease to be a director or president upon his ceasing
to be a stockholder; and not more than ten directors, chosen
by the stockholders, shall be eligible for the next succeeding year. |
No director of
any other to be a
director of this
bank. |
3. No director of any other bank shall be
at the same time a director
of this bank, and once in each year the directors shall lay
before the stockholders, at a general meeting, for their information,
an exact and particular statement of the debts which shall have remained
unpaid after the expiration of the original credit, and the
surplus profit, if any, after deducting losses and dividends. |
Treasurer of W.
S. to be furnished
annually with
statements of accounts
of bank. |
4. 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 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. |
Bills issued not to
be for a less sum
than five dollars. |
5. The notes or bills obligatory, which it
shall be lawful for the
said corporation to issue, shall not be for a less sum than five dollars. |
State directors,
when and how to
be elected. |
6. And whenever the state shall become a stockholder
to the
whole amount of the shares reserved as above mentioned, or any
part of them, then and in such case they shall be at liberty to elect
one additional director for every five hundred shares of said stock,
and the election of said directors shall be annually made by joint
ballot of both houses, either during the session of the general assembly
at which such investment shall be made, or is directed to be
made, or the first session after the state shall so have become a
stockholder to the respective amounts aforesaid. |
President and directors
to take an
oath. |
7. The president and each director, before
he enters upon the
duties of his office, shall take the following oath, or affirmation, as
the case may: " I, _____ do swear, or affirm, that I will faithfully,
" impartially, diligently and honestly, execute the duties of _____,
" agreeably to the provisions of law and the trusts reposed in me,
" to the best of my skill and judgment, and that I will not directly
" or indirectly make use of any money for the purpose of usury,
" which I may obtain by loan or discount from the Marine Bank of
" Baltimore, and that I will not buy or discount, or be interested in
" the buying or discounting, any note or obligation at higher rate
" than legal interest, and that I will not, if in my power to prevent
" it, suffer any person to obtain any discounts from the bank aforesaid,
" whom I may know or believe to be in the practice of buying
" or discounting notes or obligations at unlawful interest;" and
the cashier, the tellers, book-keepers and other officers, shall also
take the following oath, or affirmation: " I, _____ do swear or affirm,
" that I will faithfully, impartially, diligently and honestly, execute
" the duties of _____, agreeably to the provisions of law and the
" trust reposed in me, to the best of my skill and judgment," and
shall besides give bonds, with security to the satisfaction of the |
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