| 1814.
CHAP. 69. |
LAWS OF MARYLAND.
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 shall 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 relate
to the state. |
No loan exceeding
30,000 dollars to be
made without consent
of legislature. |
25. AND BE IT ENACTED, That no loan shall
be made by the
said corporation for the use or on account of this state, or the
United States, or of any particular state, to an amount exceeding
thirty thousand dollars, or such sum as now is or may be allowed
by law, or to any foreign prince or state whatever, without the
previous consent of the legislature; that the capital stock and funds
of the bank shall be deemed and taken to be personal and not real
estate. |
| Fundamental articles. |
26 AND BE IT ENACTED, That the following rules
and provisions
shall form and be fundamental articles of the constitution of
the said corporation: |
Capital to be managed
for joint benefit
of stockholders. |
That the capital stock of the Havre-de-Grace Bank
shall be
managed by the directors for the joint benefit of the stockholders,
and the benefit of the state of Maryland, if the state shall become
interested. |
No director of any
other bank to be a
director of this
bank. |
No director of any other bank shall be a director of this bank,
nor shall any two persons, copartners in any kind of business, be
directors in this institution at the same time; three at least of the
directors elected by the stockholders shall go out annually. |
One months notice
to be given of election
of directors. |
The president and directors, for the time being,
shall give one
month's notice in the most public places in the counties aforesaid,
and in some public print in the city of Baltimore, of the time and
place of holding the election of directors annually. |
Debts not to exceed
double the amount
of capital
paid in. |
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 provisions of this clause, unless the contracting of
any greater debts 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 in 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
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 |
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