ART. 11] FUNDAMENTAL ARTICLES. 309

vided, however, that nothing herein contained shall be con-
strued to prevent the said corporation from making temporary
investments of its funds in the purchase of the public debt of
the United States, or any one of the United States, or of the
city of Baltimore, or of the county or other city in which said
corporation may be located, as the president and directors for
the time being may deem safe and beneficial.

Art. 15. All bills or notes which may be issued by order of
the said corporation, signed by the president and countersigned
by the cashier or treasurer thereof, promising the payment of
money to any person or persons, his, her or their order, or
bearer, though not under seal of the corporation, shall be
binding and obligatory upon the same, in the 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 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 ore; and those which
are payable to bearer shall be negotiable, or assignable by
delivery only.

Art. 16. The shares of capital stock of the corporation shall
be transferable on the books of the corporation only, according
to such rules as shall be established by the president and
directors; but all debts actually due and payable to the cor-
poration by a stockholder requesting a transfer must be satis-
fied before such transfer shall be made, unless the president
and directors shall 'direct to the contrary.

Art. 17. No loan shall be made by the said corporation for
the use or on account of this State, or the United States, to on
amount exceeding fifty thousand dollars, or to any other State
of this Union, or to any foreign prince or State, to any amount
whatever, without the previous consent of the legislature; and
the capital stock and funds of the corporation shall be deemed
and taken to be personal and not real estate.

Art. 18. The president and directors, for the time being,
shall give three weeks' public notice, in at least two daily
newspapers published in the city of Baltimore, of the time
and place of holding the annual election of directors, if the
corporation be located in the city of Baltimore, or in at least