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Supplement to the Maryland Code, Containing the Acts of the General Assembly, Passed at the Session of 1870
Volume 386, Page 21   View pdf image (33K)
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ART. 12.] BANKS.

appear at the close of the business transactions of the
day in settlement thereof, on the first Monday of Janu-
ary and the first Monday of July; and each of the

21

said corporations shall publish said statement so made
to the treasurer, in at least one of the daily newspapers
published in the city of Baltimore, if the corporation
be located in said city, or in a newspaper published in
the county in which the corporation may be located,
if not located in said city ; said statements in all cases

To be pub-
lished.

to be verified by the oath or affirmation of the presi-
dent or cashier of the corporation.

Verified by affi-
davit.

ART. 5. The issues or notes, usually denominated
bank notes, which it shall be lawful for the corpora-
tion to issue, shall not at any time exceed the amount
of its capital stock actually paid in, and no note shall
be issued of a less amount or denomination than five
dollars, nor of any amount intermediate between five
and ten dollars ; and the general assembly may at any
time restrict the issue of such notes, both in the amount
which may be issued and in the denomination of the
notes.

Amount of is-
sue.

ART. 6. The president, each director, cashier and
treasurer, before he enters upon the duties of his office
shall take the following oath or affirmation, as the case
may be: I .......... do swear, or affirm, that I will
faithfully, impartially, diligently and honestly execute
the duties of ......... agreeably to the provisions of law
and the trust imposed in me, to the best of my skill
and judgment.

Oath of officers.

ART. 7. The total amount of the debts which any
of the said corporations shall at any time owe, exclu-
sive of its issues or notes, usually denominated bank
notes, whether by bond, bill, note or other contract,
shall not exceed the amount of capital actually paid

Debts not to ex-
ceed capital.

into the said bank ; provided, that the money deposited
in the said bank for safe keeping, shall not be con-
sidered as the debts of the bank within the provisions
of this clause ; unless the contracting of a greater debt
shall have been previously authorized by a law of this
state, and in cases of excess, the directors under whose

Proviso.



 
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Supplement to the Maryland Code, Containing the Acts of the General Assembly, Passed at the Session of 1870
Volume 386, Page 21   View pdf image (33K)
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  << PREVIOUS  NEXT >>


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