THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

hereafter be as follows: I, do solemnly

CHAP. 277

swear, or affirm, that I will faithfully and honestly

execute the duties of of the Franklin Bank

of Baltimore, to the best of my skill and knowledge.

ART. 2. Any Director of the said bank shall be

Privilege of di-

eligible at all times for re-election, and be entitled to

rector

privileges, in regard to discounts, equally or in com-

mon with other stockholders, but to no greater or

special privileges.

ART. 3. The president and directors may discount

Discount on notes

notes without regard to the smallness of their respec-

tive sums, and they may make loans on mortgages of real

or leasehold estate, situate in Maryland, to an amount

that shall at no time exceed one-sixth part of the capi-

tal stock of said bank, and they may also make loans

on the pledge of any part of the said capital stock, af-

ter the par value thereof shall have been received by

said bank, at any rate that shall not exceed the said

value, and to an amount that shall not in the aggregate

at any time exceed one sixth part of the capital stock

of said bank, and in their discretion they may at any

time hereafter withhold or refuse to make any loan

whatsoever on any part of the capital stock of said

bank.

ART. 4. But the President and Directors of said

Real estate

bank shall not take and hold any real or leasehold es-

tate, other than may be necessary for the accommoda-

tion of the said bank and its officers, nor any part of

the capital stock of said bank otherwise than as is

hereinbefore provided, except for the purpose of secur-

ing bad or doubtful debts, previously contracted, and

they shall sell all the property, real estate and stock,

which they may, with that purpose acquire, within

five years after their right and title shall be com-

plete.

SEC. 7. And be it enacted, That as soon as this act

Charter of Frank.

shall have been accepted in the manner hereinbefore

lin Bank changed

provided, the charter of the Franklin Bank of Balti-

more shall be deemed thereby, and in virtue hereof to

be changed or modified so far as the several provisions

of this act are repugnant to or intended to change or