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LEVIN WINDER, ESQUIRE, GOVERNOR.
or dissent, to the governor of the state, and to the stockholders of
a
general meeting, which they shall have power to call for that purpose. |
1814.
CHAP. 69. |
The president and directors may discount notes or
bills at any
length of time not exceeding six 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. |
Notes may be discounted
for six
months. |
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 the 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; that as soon as the second instalment shall have
been paid by the stockholders to the commissioners, or any five or
more of them herein before named, 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 the directors, which day shall be within
thirty days thereafter, and notice thereof given at least ten days
before such election; and that upon the payment of the third instalment,
the said directors are hereby authorised to commence the
operations of the bank. |
Bills issued by corporation
to be
binding on the
same. |
27. AND BE IT ENACTED, That the said Havre-de-Grace
Bank
shall subscribe for four hundred shares in the Baltimore and Havre-de-Grace
turnpike road company, agreeably to the terms and conditions
prescribed by the charter of the said turnpike road company*. |
Shall subscribe for
shares in Baltimore
and Havre-de-Grace
turnpike.
* Dec. 1813, ch. 167. |
28. AND BE IT ENACTED, That this act shall
continue in force
until the expiration of the year eighteen hundred and thirty-five,
and until the end of the next session assembly thereafter; Provided,
the said Havre-de-Grace Bank shall, within six months after it goes
into operation, make known to the executive of the state its acceptance
of, and compliance with the provisions and requisites prescribed
in the seventh section of an act, entitled, A supplement to
an act to incorporate a company to make a turnpike road leading to
Cumberland, and for the extension of the charters of the several
banks in the city of Baltimore and for other purposes, passed on
the twenty-seventh day of January in the year eighteen hundred
and fourteen †.
The president of the bank, by his letter
of the first of March 1816, notified
to the executive the acceptance of and compliance by the bank with the
provisions
and requisites prescribed in the seventh section of the act of December
1813, ch. 122. |
Duration.
Proviso.
† Dec. 1813, ch. 122. |
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CHAP. LXX.
An Act relating to the several Banks within this State. Lib.
TH.
No. 4, fol. 310. |
Passed Jan. 23, 1815. |
BE IT ENACTED, by the General Assembly of Maryland,
That
it shall be lawful for the president and directors of any bank incorporated |
May loan money to
the state. |
VOL. III.
24
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