THOMAS W. VEAZEY ESQUIRE, GOVERNOR.

1835.

fects, as shall have been bona fide, pledged or mortga-

ged to it, by way of security or conveyed to it in sa-

CHAP. 315.

tisfaction of debts, contracted in the course of its

dealings, or purchased at sales upon judgments, which

shall have been obtained for such debts; Provided how-

Proviso

ever, that nothing herein contained, shall be construed

to present the said corporation from making tempora-

ry investments 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 deetn safe and

beneficial.

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

Notes without seal

ed by order of the said corporation, signed by the

valid

president, and countersigned by a cashier or treasurer

thereof, promising the payment of money, to any per-

son or persons, his her or their order or bearer, though

not under the seal of the said corporation, shall be

binding and obligatory upon the same, in 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 capacity or capacities;

and shall be assignable and negotiable, in like manner

as if they were so issued by such private person or

persons, that is to say: Those which shall be payable

Assignable

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 exchange now

are, and those which are payable to bearer, shall be

negotiable and assignable by delivery only.

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

Transferable

bank, shall be transferable on the books of the said

bank only, according to such rules as shall be estab-

lished, and at such place as may for this purpose be

designated by the president and directors; but all debts

actually due and pay able to the bank, by a stockholder

requesting a transfer, must be satisfied before such a

transfer shall be made, unless the president and direc-

tors shall otherwise order.

ART. 18. No loan shall be made by the said corpo-

Limit of loam

ration for the use or on account of this State, nor to

any other State of this Union, nor to the United States,