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Session Laws, 1835
Volume 214, Page 609   View pdf image (33K)
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1835.

LAWS OF MARYLAND,

 

may be: I do swear, or affirm, that I will faithfully,

CHAP. 341

impartially, diligently and honestly execute the duties

 

of agreeably to the provisions of law and

.

the trust reposed in me, to the best of my skill and

 

judgment.

Limit of debts

ART. 6. The total amount of the debts which the

 

said corporation shall at any time owe, exclusive of

 

its issues or notes, usually denominated bank notes,

 

whether by bond, bill, note or other contract, shall not

 

exceed the actual capital, unless the contracting of a

 

greater debt shall have been previously authorised by

Proviso

a law of this State; Provided, that the money deposi-

 

ted in the said bank for safe keeping, shall not be con-

 

sidered as the debts of the bank within the provisions

Liability of direc-

of this clause, and in case of excess, the directors un-

tors

der whose administration it shall happen, shall be

 

liable for the same in their natural and private capaci-

 

ties, and an action may in such case be brought against

 

them or any of them, or their heirs, executors or ad-

 

ministrators, in any court of record of this State, by

 

any creditor or creditors of the said corporation, and

 

may be prosecuted to judgment and execution, any con-

 

dition, covenant, or agreement to the contrary not-

Corporation not

withstanding, hut nothing herein contained shall be

exempt

construed to exempt the said corporation, or the lands,

 

tenements, goods, chattels and effects of the same,

 

from being also liable for and chargeable with the said

Exoneration

excess, and such of the said directors who may have

 

been absent when the said excess was created, or who

 

may have dissented from the resolution or act, where-

 

by the same was created, may respectively exonerate

 

themselves from being so liable by forthwith giving

 

notice of the fact, and of their absence or dissent to the

 

Governor of the State, and to the stockholders at a

 

general meeting which they shall have power to call

Proviso

for that purpose; And provided, nothing herein con-

 

tained shall be so construed as to confer the power up- .

 

on the president and directors, to pay interest upon

 

monies deposited in said institution, other than such as

 

may be deposited therein by the order or with the ap-

 

probation of some public authority or functionary of,



 
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Session Laws, 1835
Volume 214, Page 609   View pdf image (33K)
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