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LEVIN WINDER, ESQUIRE, GOVERNOR.
newspaper printed in the city of Baltimore, of the time and place
of holding the election of directors annually. |
DEC. 1813.
CHAP. 33. |
5. 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 be: " I, _____, do solemnly swear, or affirm, that
I
will impartially, faithfully, diligently and honestly, execute the
duties of _____ of the Conococheague Bank, conformable to the
constitution of the same, and the trusts reposed in me, to the best
of my skill and judgment;" and the other officers and servants of
this bank shall also take a similar oath or affirmation, and shall
besides give bonds, with security, to the satisfaction of the president
and directors, for the faithful discharge of their duties. |
Oath of president
and directors, &c. |
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 of office shall be vacated, and
the directors shall fill up such vacancy or vacancies. |
Any officer concerned
in purchasing
notes at more
than lawful discount
to have his
seat vacated. |
7. The corporation shall in no case deal,
trade, or be concerned
in any thing but notes, bills of exchange, mortgages, stock of the
United States, 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 directly be concerned
in
trade, or the importation or exportation, purchase or sale, of any
goods, wares or merchandise, lands and tenements whatsoever, except
such ships, vessels, goods, wares and merchandise, lands or
tenements, as shall be pledged to them by way of security, or for
debts due, owing, or growing due to the said corporation, or purchased
by them to secure such debts due to the said corporation,
neither shall the said company take more than at the rate of six
per centum for or upon their loans or discounts. |
Articles in which
corporation may
be concerned. |
8. The president and directors may discount
notes or bills at
any length of time not exceeding six months. |
Period of discount. |
9. No loan shall be made by the said corporation
for the use or
on account of this state, or the United States, or any particular
state, to an amount exceeding the amount of fifty thousand dollars,
or to any foreign prince or state whatever, without the previous
consent of the legislature of this state. |
No loan exceeding
$50,000, to be
made without consent
of legislature. |
10. The president and five directors shall
constitute a board for
the transaction of business, but ordinary discounts may be done by
the president and three directors. |
Quorum. |
11. In case of sickness or necessary absence
of the president,
his place may be supplied by a director, to be appointed president
pro tempore, by the president, or in case of his incapability to
make the appointment, by the directors for the time being. |
President pro tempore. |
12. In case of the death, disqualification,
resignation, or removal
out of Washington county, of the president, the directors shall
meet as soon as can be thereafter and elect another person for president
for the residue of the year. |
Vacancy of president,
how to be
supplied. |
13. No director shall be entitled to receive
any emolument for
his services as director unless the same shall have been allowed at
a general meeting of the stockholders. |
Directors not to
receive emoluments
for their
services. |
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