24

BANES. ' [ART. 12.

Cashier, &c., to
give bond.

ART. 12. Every cashier or treasurer before he enters
upon the duties of his office, shall be required to give
bond, with two or more securities, to the satisfaction
of the president and directors, in a sum not less than
fifty thousand dollars for the larger banks, nor less
than twenty thousand dollars for those banks whose
capitals do not exceed three hundred thousand dol-
lars, with a condition for the faithful discharge of
their duties.

What real es-
tate may be
held.

ART. 13. The lands, tenements and hereditaments
which it shall be lawful for the said corporation to
hold, shall be only such as shall be requisite for its
immediate accommodation in relation to the convenient
transaction of its business, and such as shall have been
bona fide mortgaged or conveyed to it, by way of secu-
rity, or in satisfaction of debts contracted in the course
of its dealings, or purchased at sales upon judgments

Proviso

What bank
may deal in.

which shall have been obtained for such debts; pro-
vided, however, that it shall not be lawful for any such
corporation to hold any real estate purchased at sales
upon judgments as aforesaid, for more than three years,
from and after the time of such purchase, when judi-
cious sale thereof may be effected within the said three
years.
ART. 14. The corporation shall not deal or trade in
anything except bills of exchange, promissory notes
and bullion, or in the produce of their lands or of
such goods and effects as shall have been bona fide
pledged or mortgaged to it by way of security, or
conveyed to it in satisfaction of debts contracted in
the course of its dealings, or purchased at sales upon
judgments, which shall have been obtained for such

Proviso as to
temporary in-
vestments.

debts; provided, however, that nothing herein con-
tained shall be construed to prevent the said corpora-
tion from making temporary 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 Balti-
more, or of the county or other city in which said cor-
poration may be located, as the president and directors
for the time being may deem safe and beneficial.