| 1817.
CHAP. 16. |
LAWS OF MARYLAND.
happen the president and directors shall supply the same from
among the stockholders. |
| President pro tem. |
15. AND BE IT ENACTED, That in case of sickness
or absence of
the president, the board of directors shall choose one of their body
to act as president pro tem.
16, 17, These sections repealed by
1818, ch. 171. |
| Discounts. |
18. AND BE IT ENACTED, That all renewals of
discounts may be
done by the president and three directors, but the president and
six directors shall be a board necessary for transacting the general
business of the bank. |
| Transfers. |
19. AND BE IT ENACTED, That the stock of the
said bank may
be transferred by the holder in person, or by power of attorney,
but all debts actually due to the said bank, by a stockholder offering
to transfer, must be first discharged. |
President, &c. to
take an oath. |
20. AND BE IT ENACTED, That the president
and directors, and
subordinate agents of the said bank, shall severally swear, on the
Holy Evangely of Almighty God, that they will faithfully and diligently
perform the duties of their respective stations; and the said
subordinate agents shall moreover give satisfactory security to the
president of the said bank before they shall be permitted to act as
such. |
Officers not to be
concerned in purchasing
notes. |
21. AND BE IT ENACTED, That 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 shall 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.
22, 23, These sections repealed by
1818, ch. 171. |
| Stockholders incorporated. |
24. AND BE IT ENACTED, That all persons who
become stockholders
to the said bank are hereby made a corporation and body
politic under the name and style of The Planters Bank of Prince-George's
County, and by that name shall be and are hereby made
capable in law to sue and be sued, plead and be impleaded, answer
and be answered, defend and be defended, in any court of record,
or any other place whatever; and also to make, use and have, a
common seal, and the same to break, alter and renew, at pleasure;
and to make, issue and negotiate, promissory notes, and generally
to do and execute all such matters and things as to them shall appertain
under the provisions of this act. |
| Salaries. |
25. AND BE IT ENACTED, That the salaries of
the president and
other officers of the bank shall be fixed by a majority of the board
of directors, but that no director shall receive any emolument for
extraordinary services unless agreed to by a majority of all the
directors, with the concurrence of the president. |
Unsubscribed
shares. |
26. AND BE IT ENACTED, That if any of the
shares shall remain
unsubscribed for, the president and directors shall dispose of them
in such manner as they shall deem beneficial for the bank. |
State may become
a stockholder. |
27. AND BE IT ENACTED, That the state of Maryland
may at
any time become a stockholder in the Planters Bank of Prince-George's
county, by augmenting its capital, and subscribing to an
amount not exceeding thirty thousand dollars; and when the state
shall become a stockholder to the amount of thirty thousand dollars, |
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