GEORGE HOWARD, ESQ. GOVERNOR.

1831.

on judgments which shall have been obtained for such debts,
anrl the total amount of debts which the said corporation
shall at any time owe whether by bond, bill, note, or con-
tract, shall not exceed double the amount of the capital

CHAP. 133.

stock actually paid into the bank: Provided, that the money
deposited in the said bank for safe keeping, shall not be
considered as the debts of the bank, within the provisions of
this clause, unless the contracting of any greater debt shall
have been previously authorised by law of the state.

Proviso

19th. All bills and notes which may be issued by order
of the said corporation, signed by the president, and coun-
tersigned by the cashier thereof, promising the payment of
money to any person or persons, his, her, or their order, or
to bearer, though not under seal of the said corporation,
shall be binding and obligatory upon the same in like man-
ner, and with the like force and effect as upon any private
person or persons, if issued by him or them, in his or their
private capacity or capaciiies, and shall be assignable and
negotiable in like manner, as if they were so issued by such
private person or persons, that is to say, those which shall
be payable to any person or persons, his, her, or their or-
der, shall be assignable by an endorsement 'in like manner,
and with like effect, as foreign bills of exchange now are,
and those which are payable to bearer shall be negotiable or

Relating to notes
of the bank.

assignable by delivery only; Provided, that it shall not be
lawful for said bank to issue notes of a less denomination
than five dollars.

Limitation.

Sec. 15. And be it enacted, That nothing contained in this
act shall be construed to restrict the right of the legislature
to impose, from time to time, and at all times hereafter, and
levy such reasonable tax upon the property, real, personal,
and mixed, in which the capital stock of the bank hereby
incorporated, shall be invested, in common with similar pro-
perty of any other corporation of this state.

Rights reserved.

Sec. 16 And be it enacted, That this act shall continue
in force until the year eighteen hundred and forty-five, and
to the end of the next session of the general assembly there-
after.

Limitation of this
act.

Sec. 17. And be it enacted, That the said bank shall pay
to the treasurer of the western shore the sum of twenty
cents, upon the amount of every hundred dollars subscribed
and actually paid in, for each and every year during the con-
tinuance of its charter, which sum shall be, and the same is
hereby pledged by the state as a fund for the purpose of
supporting county schools, to be equally divided among the
several counties of this state, and paid over in equal propor-
tions to such persons in each county as the legislature may
hereafter appoint.

School tax.