1835.

LAWS OF MARYLAND.

CHAP. 315

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

ceed the amount of the capital actually paid into the

said bank; unless the contracting of a greater debt

shall have been previously authorised by a law of

this State, Provided, that the money deposited in the

said, bank for safe keeping, shall not be considered as the

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

Liability of Direc-

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

tors

ministration it shall happen, shall be liable for the

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 execution, any condition, co-

venant or agreement, to the contrary notwithstanding,

Corporation not exempt

but nothing herein contained shall be construed to ex-

empt the said corporation, or the lands, tenements,

goods, chattels and effects of the same from being so lia-

Exoneration

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

of the said directors who may have been absent when

the said excess was created, may respectively exonerate

themselves from being so liable, by forthwith giving no-

tice of the fact; and of their absence or dissent, to the go-

vernor of 1 he State, and to the stockholders, at a general

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

Proviso

pose; and provided, nothing herein contained, shall be

so construed as to confer the power upon the president

and directors to pay interest upon monies deposited in

said institution.

Pres. and Directors

ART. 8. The president and seven directors shall

constitute a board

constitute a board for the transaction of business, but

ordinary discounts may be granted as shall be provided

by the by-laws, and in case of sickness or necessary

President pro tem

absence of the president, his place may be supplied

by a director, whom he by writing under his hand,

shall nominate for the purpose.

Requisite to com-

ART. 9. But until the sum of two hundred thousand

mence operation

dollars in gold and silver coin, shall have been paid to

and be in the possession of the president of said bank,

as part of its capital stock, and the same shall have

been certified to the Treasurer of the Western Shore