1843.

FRANCIS THOMAS, ESQUIRE, GOVERNOR.

CHAP. 212.
Proviso.

Rules, pro-
visions and
fundamental
articles of the
constitution of
said corpora-
tion.

the rate of twelve per centum per annum from the time of
such demand; provided however, the power is reserved to
this state to revoke this charter if at any time the said
bank refuses or fails to pay specie for any of its notes.
Sec. 30. And be it enacted, That the following rules
and provisions shall form and be fundamental articles of
the constitution of the said corporation; that the capital
stock of the Havre-de-Grace Bank shall be managed by
the directors for the joint benefit of the stockholders; no
director of any other bank shall be a director of this bank,
nor shall any two persons, co-partners in any kind of bu-
siness, be directors in this institution at the same time;
three at least of the directors elected by the stockholders
shall go out annually; the president and directors, for the
time being shall give one months notice in the newspa-
pers published in Harford county, and some public prints
in the city of Baltimore, of the time and place of holding
the election of directors annually; the total amount of the
debts which the said corporation shall at any time owe,
whether by bill, bond, note or other contract, shall not ex-

Proviso.

ceed double the amount of the capital actually paid into
the said hank; provided, that the money deposited in the
said bank for safe keeping shall not be considered as the
debts of the bank, within the provision of this clause,
unless the contracting of any greater debts shall hare
been previously authorized by a law of the state. In
case of excess, the directors under whose administration
it shall happen, shall be liable for the same in their natu-
ral and private capacities, and an action of debt may in
such case be brought against them, or any of them, or
their heirs, executors or administrators in any court of re-
cord of this state, by any creditor or creditors of the said
corporation, and may be prosecuted to judgment and ex-
ecution, any condition, covenant or agreement to the con-
trary notwithstanding; but nothing herein contained shall
shall be construed to exempt the corporation or the lands,
tenements, goods and chattels of the same, from being
also liable for and chargeable with the said excess; and
such of the said directors who may have been absent
when the said excess was created, or may have dissented
from the resolution or act whereby the same was created,
may respectively exonerate themselves from being so lia-
ble, by forthwith giving notice of the fact, and of their
absence or dissent, to the Governor of the State, and to
the stockholders of a general meeting, which they shall
have power to call for that purpose; the president and
directors may discount notes or bills at any length of time
not exceeding six months, but may renew the same from