1835.

LAWS OF MARYLAND.

tion of the president and directors of said bank, in a

CHAP. 251.

sum not less than twenty thousand dollars, with a con-

dition for his good behaviour; and so in the discretion

cf the board, from any subordinate officer employed in

said bank.

Notice of elections

ARTICLE 13. The notice which shall be given of

every general election shall be not less than thirty

days in the newspapers as aforesaid.

Real estate restric-

ARTICLE 14. The lands, tenements and heredita-

ted

ments, which it shall be lawful for the said corporation

to hold, shall be only such as shall be requisite for its

immediate accommodation, in relation to the conveni-

ent transacting of its business, and such as shall have

been bona fide mortgaged or conveyed to it, by way of

security, or in satisfaction of debts contracted in the

course of its dealings, or purchased at sales upon judg-

ments, which shall have been obtained for such debts;

and all such lands, tenements and herediments, so ta-

ken in satisfaction of debts, or purchased at sales upon

judgments, shall be re-sold and conveyed by the said

president and directors within the term of five years

from the taking or purchase thereof as aforesaid.

Transactions restricted

ARTICLE 15. That the corporation shall not deal or

trade in any thing except bills of exchange, promisso-

ry notes and bullion, or in the sale of goods, which

shall be the produce of their lands, or of such goods

and effects, as shall have been bona fide pledged or

mortgaged to it, by way of security, or conveyed to it

in satisfaction of debts, contracted in the course of its

dealings, or purchased at sales upon judgments, which

shall have been obtained for such debts.

Notes obligatory —

ARTICLE 16. That all bills or notes, which may be

assignable, &c.

issued by order of the said corporation, signed by the

president, and countersigned by the principal cashier

or treasurer thereof, promising the payment of money,

to any person or persons, his, her or their order, or

bearer, though not under the seal of the said corpora-

tion, shall be binding and obligatory upon the same, in

the like manner, and with the 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