| ROBERT WRIGHT, ESQUIRE, GOVERNOR.
" that I will impartially, faithfully, diligently and honestly, execute
" the duties of _____ of the Hager's-town Bank, conformable to the
" constitution of the same, and the trusts reposed in men, to the best
" of my skill and judgment;" and the other officers and servants of
this bank shall also take a similar oath or affirmation, and shall
besides give bonds, with security, to the satisfaction of the president
and directors, for the faithful discharge of their duties. |
1807.
CHAP. 26. |
6th. 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 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. |
President, &c.
concerned in purchasing
notes or
bills at more than
lawful discount,
their seats to be vacated. |
7th. THe corporation shall in no case deal,
trade or be concerned
in, any thing but notes, bills of exchange, mortgages, stock of
the United States, or bullion, except in the case of debts due to
them, then they shall be fully empowered to take any kind of security
which they can obtain; nor shall the corporation, in any case,
be owners of any ships or vessels, or directly or indirectly be concerned
in trade, or the importation or exportation, purchase or sale,
of any goods, wares or merchandise, lands and tenements, whatsoever,
except such ships, vessels, goods, wares and merchandise,
lands or tenements, as shall be pledged to them by way of security,
or for debts due, owing or growing due, to the said corporation, or
purchased by them to secure such debts due to the said corporation;
neither shall the said company take more than at the rate of six
per centum for or upon their loans or discounts. |
Articles in which
company may
deal. |
8th. The president and directors may discount
notes or bills at
any length of time not exceeding six months. |
Notes may be
discounted at any
length of time not
exceeding six
months. |
9th. No loan shall be mad by the said corporation
for the use or
on account of this state, or the United States, nor any particular
state, to an amount not exceeding the amount of ten thousand dollars,
or to any foreign prince or state whatever, without the previous
consent of the legislature of this state. |
No loan to be
made exceeding
$ 10,000 without
consent of legislature. |
10th. The president and five directors shall
constitute a board for
the transaction of business; but ordinary discounts may be done by
the president and three directors. |
Board for transacting
business. |
11th. In case of sickness or necessary absence
of the president,
his place may be supplied by a director, to be appointed president
pro tempore by the president, or in case of his incapability
to make
the appointment, by the directors for the time being. |
President pro tem. |
12th. In case of the death, disqualification,
resignation, or removal
out of Washington county, of the president, the directors
shall meet as soon as can be thereafter, and elect another person
for president for the residue of the year. |
Vacancy of president,
how to be
filled. |
13th. No director shall be entitled to receive
any emolument for
his services as director, unless the same shall have been allowed at
a general meeting of the stockholders. |
No director to be
entitled to any
emolument for
his services. |
14th. The president and directors may call
a general meeting of
the stockholders for any purpose relative to the institution, giving
at least six weeks notice in the two newspapers published in Elizabeth-town,
and in one newspaper published in the city of Baltimore,
specifying in such notice the object or objects of such meeting; |
General meeting
of stockholders,
how to be called. |
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