1835.

LAWS OF MARYLAND.

all such lands, tenements and hereditaments so taken

CHAP 314.

in satisfaction of debts, or purchased at sales upon judg-

Resold in 5 years.

ments or decrees, 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, or 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 or decrees which

Proviso

shall have been obtained for such debts; Provided how-

ever, that nothing herein contained shall be construed

to prevent the said corporation from making tempo-

rary investments of its funds, in 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; and

provided, that the said corporation shall in no case pay

or contract to pay any premium or interest upon any

deposite.

Notes not under

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

seal, &c.

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

his, her or their order or bearer, though not un-

der the seal of the corporation, shall be binding

and obligatory upon the same in the like manner

and with the like foree and effect as upon private

person or persons, if issued by him, her or them, in

his, her or their private or natural capacity or capa-

Assignable

cities; and shall be assignable and negotiable in like

manner as if they were issued by such private per-

son 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.