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Proceedings and Acts of the General Assembly, 1874
Volume 211, Page 2974   View pdf image (33K)
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JAS. BLACK GROOME, ESQUIRE, GOVERNOR. 115

corporation to issue such bank notes, if the Directors

 

should at any time deem it inadvisable.

 

SEC. 14. And be it enacted, That the President, each

 

Director and Cashier, before entering upon the duties

 

of his office, shall take the following oath or affir-

 

mation, as the case may be : "I, do solemnly swear,

 

(or affirm), that I will faithfully, impartially, dili-

Oath.

gently and honestly, execute the duties of ——— ,

 

agreeably to the provisions of the law, and the trust

 

reposed in me to the best of my skill and judgment."

 

said oath or affirmation to be taken before any justice

 

of the peace, or other person having authority under

 

the laws of this State to administer oaths ; and to be

 

made in writing, signed by the affiant, and filed

 

among the archives of the bank.

 

SEC, 15. And be it enacted, That the total amount

 

of the debts which the said corporation, shall at any

 

time owe, exclusive of its issues or notes, whether

 

by bill, bond, note, or contract, shall not exceed the

 

amount of the capital stock actually paid in; (pro-

Amount of debt

vided, that money deposited in the bank for safe

 

keeping shall not be considered as debts of the bank

 

within the provisions of this section), unless the con-

 

tracting of a greater debt shall have been previously

 

authorized by a law of this State, and in cases of ex-

 

cess, the Directors under whose administration it

 

shall happen, shall be liable for the same in their

 

natural and private capacities, and action may in such

 

cases be brought against them, or any of them, or

 

their heirs, executors, or administrators, in any court

Liability.

of record in this State, by any creditor or creditors

 

of said corporation, and may be prosecuted to judg-

 

ment and execution; any condition, covenant, or

 

agreement to the contrary notwithstanding; but

 

nothing herein contained shall be construed to ex-

 

empt the said corporation, or the lands, tenements,

 

goods and chatties of the same, from being also lia-

 

ble for and chargeable with the said excess, and such

 

of the Directors as may have been absent when the

 

said excess was created, or who 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, or dissent, to the Governor of

 


 

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Proceedings and Acts of the General Assembly, 1874
Volume 211, Page 2974   View pdf image (33K)
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