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EDWARD LLOYD, ESQUIRE, GOVERNOR.
" or indirectly make use of any money for the purpose of usury
" which I may obtain by loan or discount from the Franklin Bank
" of Baltimore, and that I will not buy or discount, or be interested
" in the buying or discounting, any note or obligation at a 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, tellers, book-keepers, and other officers and
servants of this bank, shall also take the following oath, or affirmation:
" I, _____ do solemnly swear, or affirm, that I will impartially,
" faithfully, diligently and honestly, execute the duties of a
" _____ of the Franklin Bank of Baltimore, conformably to the
" constitution of the same, and the trust reposed in me, to the best
" of my knowledge, skill and judgment," and shall besides give
bond, with security, to the satisfaction of the president and directors,
for the faithful discharge of their duties. |
1810.
CHAP. 67. |
6. If the president or any director, the cashier
or any other
officer of the said bank, shall be concerned, directly or indirectly,
in purchasing any note or notes, bill or bills, at more than lawful
discount or interest, and information thereof be given and supported
to the satisfaction of a majority of the board or quorum of directors,
his or their seat or seats, or office, shall be vacated, and
the directors shall fill up such vacancy or vacancies, nor shall any
person or persons known to discount notes at more than legal interest
receive any accommodation from the funds of this bank. |
Seat of any director,
&c. concerned
in purchasing
any note at
more than lawful
discount, to be vacated,
&c. |
7. The total amount of the debts which the
said corporation
shall at any time owe, whether by bond, bill, note or other contract,
shall not exceed double the amount of the capital actually
paid into the said bank; Provided, that the money deposited in the
said bank for safe keeping shall not be considered as the debts of
the bank within the provision of this clause, unless the contracting
of any greater debt shall have been previously authorised by a law
of this state. In case of excess, the directors under whose administration
it shall happen, shall be liable for the same in their natural
and private capacities, and an action may in such case be
brought against them, or any of them, or their heirs, executors or
administrators, in any court of record of this state, by any creditor
or creditors of the said corporation, and may be prosecuted to
judgment and execution, any condition, covenant or agreement, to
the contrary notwithstanding, but nothing herein contained shall
be construed to exempt the said corporation, or the lands, tenements,
goods and chattels, of the same, from being also liable for,
and chargeable with, the said excess; and such of the said directors
who may have been absent when the said excess was created,
or who may have dissented from the resolution or act whereby the
same was created, may respectively exonerate themselves from being
so liable, by forthwith giving notice of the fact, and of their
absence or dissent, to the governor of the state, and to the stockholders
at a general meeting which they shall have power to call
for that purpose. |
Amount of debts
not to exceed double
the amount of
capital paid in—
Excess. |
8. The notes or bills obligatory which shall
be lawful for the
said corporation to issue, shall not be for a less sum than five dollars. |
Bills issued not to
be for a less sum
than five dollars. |
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