| 1817.
CHAP. 21.
President, &c. to
take an oath. |
LAWS OF MARYLAND.
22. AND BE IT ENACTED, That before the president
and directors
shall act as such, they shall take an oath, or affirmation, that
they will faithfully, diligently and honestly, perform the duties of
their station, and the cashier, and other officers, shall also take a
similar oath, or affirmation, and shall besides give bonds with security
to the satisfaction of the board of directors, for the faithful
discharge of the duties in their several stations. |
| Notes, how payable. |
23. AND BE IT ENACTED, That all notes offered
for discount by
any person or persons, shall on the face thereof be made negotiable
at the Centreville Bank of Maryland, and when the drawer shall
not reside in the town of Centreville, such note shall be made
payable at the house of some person in the town aforesaid, and
notice given by the proper servant of the bank at said house, that
such note hath become due, shall be to all intents and purposes held
and considered to be as completely binding on the drawer and endorsers
as if notice had been personally served on each of them. |
| Fraud. |
24. AND BE IT ENACTED, That any director,
officer, or other
person, holding any share or capital of the said bank stock, who
shall commit any fraud or embezzlement touching the money or
property of the bank, shall be liable to be prosecuted in the name
of the state, by indictment for the same, in any court of law in this
state, and upon conviction thereof shall, besides the remedy that
may be had by action in the name of the president and directors
of the Centreville Bank of Maryland, for the fraud aforesaid, forfeit
all his share or stock in the said bank, to the company. |
| Subscribers incorporated. |
25. AND BE IT ENACTED, That all persons who
shall become
subscribers to the said bank, their successors and assigns, shall be
and are hereby made a corporation and body politic, by the name
and style of The President and Directors of the Centreville Bank
of Maryland, and by that name shall be and are hereby made able
and 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 whatsoever, and also to have, make and
use, a common seal, and the same to break, alter and renew, at
pleasure, and to make, issue and negotiate notes, and generally to
do and execute all such acts, matters and things, as to them shall
appertain under the clauses of this act. |
| Rules and articles. |
26. AND BE IT ENACTED, That the following
rules and provisions
shall form and be the fundamental articles of the constitution
the said corporation. |
Capital to be managed
for benefit
of stockholders. |
Article 1st. the capital stock of the Centreville
Bank of
Maryland shall be managed by the directors for the benefit of the
of stockholders. |
No director of any
other to be a director
in this bank. |
2d. No director of any other bank shall be
a director in this
bank, nor shall any two persons, copartners of any kind of business,
be directors in this institution at the same time; two at least
of the directors elected by the stockholders shall go out annually. |
Notice of election
of directors. |
3d. The president and directors for the time
being shall give
one month's notice in the most public places in the county, and in
one or more of the public prints in the town of Easton, of the time
and place of holding the election of directors annually. |
Debts not to exceed
double the
amount of capital.
Excess. |
4th. 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 |
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