| DEC. 1813.
CHAP. 81. |
LAWS OF MARYLAND.
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
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 stockholders, at a general meeting, which they
shall have power to call for that purpose. |
Notes may be discounted
for four
months. |
5. The president and directors may discount
notes or bills at any
length of time not exceeding four months, but may renew the same
from time to time at pleasure, and shall not receive on loans or
discounts more than at the rate of six per centum per annum. |
Bills issued by corporation
to be
binding upon
them. |
6. All bills and notes which may be issued
by order of the said
corporation, signed by the president and countersigned by the
cashier thereof, promising the payment of money to any person or
persons, his, her or their order, or to bearer, though not under
the seal of the said corporation, shall be binding and obligatory
upon the same, in like manner, and with the like force and effect,
as upon any private person or persons, if issued by him or
them in his, her, or their private or natural capacity or capacities,
and shall be assignable and negotiable in like manner, as if they
were so issued by such private person or persons; that is to say,
those which shall be payable to any person or persons, his, her or
their order, shall be assignable by endorsement in like manner and
with the like effect as foreign bills of exchange now are, and those
which are payable to bearer shall be negotiable or assignable by
delivery only. |
Election of directors,
when to take
place. |
25. AND BE IT ENACTED, That so soon as forty
thousand dollars
shall be actually paid to the commissioners aforesaid, and at
least four thousand shares being subscribed for, it shall be the duty
of the said commissioners, or any five or more of them, to appoint
a day and place for the election of directors, which day shall be
thirty days thereafter, and notice shall be given at least ten days
before such election; and the said directors shall be and they are
hereby authorised, immediately after such election, to commence
the operations of the said bank. |
| Duration. |
26. AND BE IT ENACTED, That this act shall
continue in force
until the expiration of the year eighteen hundred and fifteen, and
until the end of the next session of assembly thereafter.
Further continued and extended by 1815, ch. 167,
to 1st January 1835, &c. |
|
_____
|
Passed Jan. 21, 1814. |
CHAP. LXXXII.
An Act to revive an act, entitled, An act to incorporate a Company
for making an artificial Road from French Town
on Elk-River,
in Cecil County, in the State of Maryland, to the Delaware
line,
in a direction towards the Town of New-Castle, except
such part
thereof as is altered and changed by this act.
Lib. TH. No. 4,
fol. 96. |
| Act of 1809, revived,
* Ch. 64. |
1. BE IT ENACTED, by the General Assembly
of Maryland, That
an act passed at November session eighteen hundred and nine*,
entitled, An act to incorporate a company for making an artificial
road from French-town, on Elk-River, in Cecil county, in the
state of Maryland, to the Delaware line, in a direction towards |
|
 |
