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CHAP. 506.
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impartially, faithfully, diligently and honestly execute
the duties of president or director, as the case may
be, of the Cecil Bank, conformably to the constitution
of the same, and the trust reposed in me, to the best
of my skill and judgment; and the other officers and
servants of this bank shall also take a similar oath or
affirmation, and shall, beside, give bonds with secu-
rity, to the satisfaction of the president and directors,
for the faithful discharge of their duties.
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Fundamental
articles.
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Fifth. The corporation shall in no case deal, trade,
or be concerned in any thing but notes, bills of ex-
change, mortgages, stock of the United States, of
bullion, except in cases of debts due them, when
they shall be fully empowered to take any kind of se-
curity which they can obtain, nor shall the corpora-
tion, in any case, directly or indirectly, he concerned
in trade; or the importation or exportation, purchase
or sale of any goods, wares or merchandise, lands,
tenements or hereditaments, whatsoever, except goods,
wares or merchandise, lands, tenements or heredita-
ments, 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
company take more than at the rate of six per centum
per annum, for or upon their loans or discounts.
Sixth. The president and directors may discount
notes or bills at any length of time, not exceeding six
months.
Seventh. No loan shall be made by the said corpo-
ration for the use of on account of this State, or the
United States, or any particular State, to an amount
exceeding the sum of twenty thousand dollars, or to
any foreign power or State, without the previous con-
sent of the Legislature of this State.
Eighth. The president and five directors shall con-
stitute a board for the transaction of business, but
ordinary discounts may be done by the president and
three directors.
Ninth. In case of the sickness or necessary absence
of the president, his place may be supplied by a di-
rector, to be appointed president pro tempore by the
president, or in case of his inability or omission to
make the appointment, by the directors for the time
being.
Tenth. In case of the death, disqualification, re-
signation or removal out of Cecil county, of the pre-
sident, the directors shall meet, as soon as can be
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