THOMAS W. VEAZEY, ESQUIRE, GOVERNOR.

1835.

faithfully, impartially, diligently and honestly, exe-

cute the duties of agreeably to the provisions

CHAP. 298.

of law, and the trust reposed in me, to the best of my

skill and judgment.

ART. 7. The total amount of the debts which the

Debts

said corporation shall at any time owe, exclusive of its

issues or notes, usually denominated bank notes, whe-

ther by bond, bill, note or other contract, shall not ex-

ceed the amount of the capital actually paid into the

said bank; Provided, that the money deposited in the

said bank for safekeeping, shall not be considered as the

debts of the bank, within the provisions of this clause,

unless the contracting of a greater debt shall have

been previously authorised by a law of this State

and in case of excess, the directors under whose ad-

Liability of Direct

ministration it shall happen, shall be liable for the

tors, &c.

same, in their natural and private capacities, and an

action may in such case be brought against them, or

any of them, or their heirs, executors or administrators,

in any court of record of this State, by any creditor

or creditors of the said corporation, and may be pro-

secuted to judgment and executiou, any condition, ca-

venant or agreement, to the contrary notwithstanding,

but nothing herein contained shall be construed to ex-

empt the said corporation, or the lands, tenements,

goods and chattels of the same from being also liable

for, and chargeable with, the said excess; and such

of the said directors who may have been absent

when the said excess was created, or who may have

dissented from the resolution or act whereby the same

was created, may respectively exonerate themselves

from being so liable, by forthwith giving notice of the

fact; and of their absence or dissent, to the governor

of the State, and to the stockholders, at a general meet-

ing which they shall have power to call for that pur-

pose; and provided, nothing herein contained, shall be

Int. on deposites

so construed as to confer the power upon the president

and directors to pay interest upon monies deposited in

said institution.

ART. 8. The president and six directors shall

Board for business

constitute a hoard for the transaction of business, but

ordinary discounts may be granted as the by-laws