184

LAWS OF MARYLAND.

Give bond

K. The Cashier, before entering upon the duties

of his 'office, shall he required to give bond with two

or more securities to the satisfaction of the Presi-

dent and Directors, in a sum of not less than fifty-

thousand dollars, with a condition for the faithful

discharge of his duties.

L. The lands, tenements and hereditaments, which

Lands tene-
ments, &c

it shall be lawful for this corporation to hold, shall

be such as were hereinbefore set forth in section

five of this act, and such as shall be requisite for its

accommodation in relation to the transaction of its

business, or such as shall have been bona fide mort-

gaged or conveyed to it by way of security, or in
the satisfaction of debts contracted in the course of

its dealings, or purchased at sales upon judgments,

which shall have been obtained for such debts or at

the foreclosure of mortgages.

M. That all bills or notes which may be issued by

Bills and notes
issued.

order of the corporation, signed by the President

or counter-signed by the Cashier thereof, promising

the payment of money to any person or persons, his,

her or their orders, or bearer, though not under the

seal of the corporation, shall be binding and obli-

gatory upon the same, in the like manner and with

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 per-

sons, that is to say, those which shall be payable to

any person or persons, his, her or their orders, 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 ; provided,

that nothing herein contained, shall authorize or

permit the President or Cashier to sign, issue or

deliver in blank, any note, bill or certificate in the

name of this corporation.

Capital stock

N. That the shares of the capital stock of the cor-

transferable

poration shall be transferable on the books of the

corporation only according to such rules as shall be

established by the President and Directors, but all

debts actually due and payable to the corporation by