1835.

LAWS OF MARYLAND.

CHAP. 298.

its dealings, or purchased at sales upon judgments which

shall have been obtained for such debts; and all such

lands, tenements, hereditaments so taken in satis-

faction of debts, or purchased at sales upon judgments,

shall be resold and conveyed by the said president and

directors within the term of five years from the taking

or purchase thereof as aforesaid.

Kind of business

ART. 15. That the corporation shall not deal or

trade in any thing except bills of exchange, promissory

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

be the produce of their lands, or of such goods and ef-

fects as shall have been bona fide, pledged or mortgaged

to it by way of security, or conveyed to it in satisfac-

tion of debts contracted in the course of its dealings, or

purchased at sales upon judgments which shall have

Proviso

been obtained for such debts; Provided however, that

nothing herein contained shall be construed to prevent

the said corporation from making temporary invest-

ments of its funds, in purchase of the public debt of

the United States, or any one of the United States, or

of the city of Baltimore, as the president and directors

for the time being, may deem safe and beneficial.

Notes not under seal, &c

ART. 16. That all bills or notes, which may be is-

sued by order of the said corporation, signed by the pre-

sident 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 to

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 capaci-

ty or capacities; and shall be assignable and negotiable

in like manner as if they were so issued by such pri-

vate person or persons, that is to say: — Those which

shall be payable to any person or persons, his, her or

their order, shall be assignable by endorsement in like

manner and with the like effect as foreign bills of ex-

change now are, and those which are payable to bearer

shall be negotiable or assignable by delivery only.

Transfer of stock

ART. 17. That the shares of capital stock of the

said bank shall he transferable on the books of the said