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5. The president and each director, before he enters upon the duties of his office, shall take the
following oath, or affirmation, as the case may be: " I, ———, do solemnly swear, or affirm, that I
" will impartially, faithfully, diligently and honestly, execute the duties of —— of the Franklin
" Bank of Baltimore, conformably to the constitution of the same, and the trust reposed in me, to
" the best of my skill and knowledge; and that I will not directly or indirectly make use of any
" money for the purpose of usury which I may obtain by loan or discount from the Franklin Bank of
" Baltimore, and that I will not buy or discount, or be interested in the buying or discounting, any
" note or obligation at a higher rate than legal interest, and that I will not, it in my power to pre-
" vent it, suffer any person to obtain any discounts from the bank aforesaid, whom 1 may know or
" believe to be in the, practice of buying or discounting notes or obligations at unlawful interest; "
and the cashier, tellers, book-keepers, and other officers and servants of this bank, shall also take
the following oath, or affirmation: "I ——— do solemnly swear, or affirm, that I will impartially,
" faithfully, diligently and honestly, execute the duties of a —— of the Franklin Bank of Balti-
" more, conformably to the constitution of the same, and the trust reposed in me, to the best of my
" knowledge, skill and judgment, " and shall besides give bond, with security, to the satisfaction of
the president and directors, for the faithful discharge of their duties.
6. If the president, or any director, the cashier or any other officer of the said bank, shall be
concerned, directly or indirectly, in purchasing any note or notes, bill or bills, at more than lawful
discount or interest, and information thereof be given and supported to the satisfaction of a majo-
rity of the board or quorum of directors, his or their seat or seats, or office, shall be vacated, and
the directors shall fill up such vacancy or vacancies, nor shall any person or persons known to dis-
count notes at more than legal interest receive any accommodation from, the funds of this bank.
7. The total amount of the debts which the said corporation shall at any time owe, whether by
bond, bill, note or other contract, shall not exceed double the amount of the capital actually paid
into the said bank; 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 debt shall have been previously authorised by a law of this state in case of excess, the
directors under whose administration it shall happen, shall be liable for the same in their natural"
and private capacities, and an action may in such case be brought against them, or any of them, or
their heirs, executors or administrators, 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 condition,
covenant or agreement, to the contrary notwithstanding, but nothing herein contained shall be con-
strued to exempt the said 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 who may have dissented from the reso-
lution or act whereby 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 for that
purpose.
8. The notes or bills obligatory which shall be lawful for the said corporation to issue, shall not
be for a less sum than five dollars.
9. The corporation shall in no case deal, trade or be concerned in, any thing but notes, bills of
exchange, mortgages, stock of the United States or bullion, except in case of debts due to them,
then they shall be fully empowered to take any kind of security which they can obtain, nor shall
the corporation in any case be owners of ships or vessels, or directly or indirectly be concerned in
trade, or in the importation or exportation, purchase or sale, of any goods, wares and merchan-
dize, lands and tenements, whatsoever, except such ships, vessels, goods, wares, merchandize,
lands or tenements, as shall. be pledged to them by way of security, or for debts due, owing or
growing due, to the said corporation, or purchased by them to secure such debts due to the said
corporation, neither shall the said corporation take more than at the rate of six per centum per an-
num for or upon their loans or discounts.
10. The president and directors may discount notes at any length of time, and may loan money
on property security to practical mechanics only, but not exceeding one tenth part of the stock ac-
tually paid into the bank at the time of making such loan or loans, but no note or bill for a less sum
than fifty dollars shall be discounted by the said president and directors; and the president and di-
rectors shall discount any stockholder's note, drawn in favour of the president of said bank, to the
amount of three fourths of the sum paid in on his stock, upon a transfer of his stock to the said
president as a security for the punctual payment of the note when due; and any stockholder claim-
ing a discount on the suretyship of his stock, shall be entitled to a preference; and if any stock-
holder, accommodated on the transfer of his stock as aforesaid, shall fail to pay the amount of the
Bum so loaned as aforesaid, the shares of stock so transferred shall and may, in ten days after such
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CHAP.
LXVII.
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