GEORGE HOWARD, ESQ. GOVERNOR.

1831

CHAPTER 317.

CHAP. 317.

An act to restrain Piivate Banking.

Passed Mar.13, 1832

Section I. Be it enacted by the General Assembly of Ma-

Banks & bankers

ryland, That it shall not be lawful for any person or per-
aons, or association of persons engaged in banking, or in

prohibited from
passing notes &c
under 5 dollars.

the business of receiving deposits of money, or of making

discounts, or of issuing notes or other evidences of debt

to be loaned, or put in circulation as money, or as currency,

or lo circulate as if it were currency, to pay, give, or in

any way circulate or attempt to circulate, any bill, promis-

sory note, payable to bearer, or payable to order, check,

draft, or other evidence of debt, which shall purport to be

for the payment of a less sum of money than five dollars,

and which shall be issued after the first day of April next;

nor shall it be lawful for any person to receive in payment

or exchange, any such bill,note,check,draft or other evidence

of debt; nor shall it be lawful for any person or persons,

Or any person for
them.

or association of persons for or on behalf of, or in any

wise in connexion with, or relating to the business or pro-

fits or benefits of the said business, or the person or associ-

ation of persons engaged in the business aforesaid, of de-

posits, discounts, and issuing, or either, to pay, give, circu-

late or attempt to circulate as aforesaid, any such bill, note,

check, draft or other evidence of debt as aforesaid.

Sec. 2. And be it enacted, That any person or persons,

Penalty 50 dollars

or association of persons offending against this act, shall

forfeit and pay the sum of fifty dollars for each and every

bill, note, check, draft, or other evidence of debt as afore-

said, given, paid, received, circulated, or attempted to be

circulated as aforesaid, to be recovered in the name of the

state, before a justice of the peace, one half of the said

penalty to be for the use of the informer and the other half

for the use of the state.

Sec. 3. And be it enacted, That every bill, note, check,

Such notes are null

draft, or other evidence of debt, given, paid, received, cir-

and void.

culated, or attempted to be circulated contrary to the provis-

ions of this act, shall be deemed and taken to be null and void

to all intents and purposes; Provided, That nothing in this act
shall be construed to repeal,or many way affect an act,entitled

Proviso

An act to prevent the increase of banking companies, pass-

ed in eighteen hundred and ten, chapter one hundred and

eight