| NOV. 1812.
CHAP. 180. |
LAWS OF MARYLAND.
miles from the said city, and every female stockholder, may vote
in person, or by a written ballot by him or her subscribed, with
his
or her name, and said ballot shall be sealed up and addressed to the
cashier of the bank, and being transmitted before the time of the
election, shall be received and counted in the election; no person
who is not a citizen of the United States shall be entitled to vote in
any election of this corporation. |
None but a stockholder
to be a director. |
None but a stockholder shall be eligible as a director,
except
in the case of directors chosen by the state. |
No director of any
other bank to be a
director of this
bank. |
No director of any other bank, nor any person who
is a partner
in trade with a director of any bank, shall be a director in this
bank; and the president and directors for the time being shall give
six weeks notice in two or more of the newspapers printed in the
city of Baltimore, one in the city of Annapolis, one in George-town,
one in Frederick-town, one in Hager's-town, and one in
Easton, of the time and place of holding the election of directors
annually. |
Debts not to exceed
double the
amount of capital
paid in.
Proviso. |
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 the 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 of debt 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. |
Notes issued not to
be for a less sum
than five dollars. |
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,
payable to bearer on demand. |
Articles in which
corporation may
be concerned. |
The corporation shall in no case deal, trade or
be concerned
in, any thing but notes, bills of exchange, mortgages, or bullion,
except in the case of debts due to them, then they shall be fully
empowered to take any kind of security which they can obtain;
nor shall the corporation in any case be owners of any ships or
vessels, or directly or indirectly be concerned in trade, or in the
importation or exportation, purchase or sale, of any goods, wares
and merchandize, lands and tenements whatsoever, except such
ships, vessels, goods, wares, merchandize, lands or tenements, as |
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