1885.

LAWS OF MARYLAND.

other officers and servants of this bank shall also take?

CHAP. 318.

a similar oath or affirmation, and shall besides give

bonds with security to the satisfaction of the president

and directors, for the faithful discharge of their duties.

Penalty to pres.and directors for tak-ing illegal interest

ART. 8. If the president or any director, the cashier or any other officer of the said bank shall be con-

cerned, directly or indirectly, in purchasing any note

or notes, bill or bills, at more than lawful discount or

interest, and information thereof be given, and sup-

ported, to the satisfaction of a majority of the board,

or quorum of directors, his or their seat or seats of

office shall be vacated, and the directors shall fill up

such vacancy or vacancies.

Kind of business

ART. 9. That the corporation shall not deal or trade

in any thing except bills of exchange, promissory

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

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

fects as shall have been bona fide pledged or mortgag-

ed to it by way of security, or conveyed to it in satis-

faction of debts, contracted in the course of its deal-

ings or purchased at sales upon judgments or decrees

which shall have been obtained for such debts; provid-

ed, however, that nothing herein contained shall be con-

strued to prevent the said corporation from making

temporary investments of its funds, in purchase of the

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

United States, or of the city of Baltimore, as the pre-

sident and directors for the time being may deem safe

and beneficial.

Sam necessary to go into operation

ART. 10. But until the sum of seventy-five thousand

dollars in gold and silver coin, shall be in the posses-

sion of the president and directors of said bank, as part

of its capital stock, and the same shall have been cer-

tified to the treasurer of the Western Shore of Mary-

land, by such persons as he shall appoint to ascertain

Prohibition

and report said facts, it shall not be lawful for the said

president and directors to issue any note of said cor-

poration; nor shall the president and directors of said

bank in their corporate capacity have the power to hold

any part of the capital stock, or receive the same as

collateral security for money loaned or advanced there-

upon, except for bad or doubtful debts previously con-

fer acted.