236

LAWS OF MARYLAND.

1812

Treasurer of the
Western Shore
-shall be furnish-
ed with state-
ments of the
amount of the
capital stock,

&c.

24. AND BE IT ENACTED, That the treasurer

of the Western Shore for the time being shall be fur-
nished as often as he may require, with statements of
the amount of the capital stock of the said corporation,
and of the debts due to and from the same; of the mo-
nies deposited therein; of the notes in circulation; of
the cash in hand, and of the profits made; and shall
have a right to inspect such general accounts in the
books of the bank as shall relate to the said statement;
but nothing herein contained shall be construed to im-
ply a right of inspecting the account of any private
individual or individuals with the bank; nor shall such
general statement and power of inspection be used
for any other purpose than to enable him to form a
just opinion cf the state of the institution, relative to
the public safety, and of the profits thereof; over which
he is hereby appointed guardian, as far as the same re-
lates to the state.

Loans to the
United State,
&c.

25. AND BE IT ENACTED, That no loan shall
be made by the said corporation for the use, or on
account of this state, or the United States, or of any
particular state to an amount exceeding ten thousand
dollars; or to any foreign prince or state whatever,
without the previous consent of the legislature; that
the capital stock and funds of the bank shall be deem-
ed and taken to be persona! and not real estate.

Fundamental
articles of the
constitution.

26. AND BE IT ENACTED, That the follow-
ing rules and provisions shall form and be fundamen-
tal articles of the constitution of the said corporation:
ART. 1st That the capital stock of the Cumberland
bank of Allegany shall be managed by the directors
for the joint benefit of the stock-holders, and the bene-
fit of the state of Maryland, if the state shall become
interested.
ART. 2d. No director of any other bank shall be a
director in this bank; nor shall any two persons co-
partners in any kind of business be directors of this
institution at the same time; one at least of the direc-
tors elected by the stock holders, shall go out annu-
ally.
ART 3d. 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 back within the provision of this
clause, unless the contracting of any greater debts
shall have been previously authorised by a law of the