204

LAWS OF MARYLAND.

capital stock of said bank to be received under the direc-
tion of a majority of the commissioners named in said
original act, be, and the same is hereby repealed.

Authority to
receive sub-
scriptions.

SEC. 3. And be it enacted, That any five of the
commissioners, be, and they are hereby authorised and
empowered, to receive subscriptions to the capital slock
of the said bank, and to do and perform all acts, which
a majority of the commissioners named in said original
act were empowered to do under said original act.

Repealed.

SEC. 4. And be it enacted, That so much of the
fourth and sixth sections of said act, as requires notice
to be given in two newspapers in the city Baltimore,
be, and the same are hereby repealed.

Amended sec-
tion.

SEC. 5. And be it enacted, That section nine of
said act, is hereby so amended, as to authorise the sub-
scription of nine thousand five hundred shares to the
capital stock of said Bank.

Repealed.

Fifth article.

SEC. 6. And be it enacted, That article fifth of
section thirteen of said act, which restricts said bank
from issuing bank notes to an amount not exceeding its
capital stock actually paid in, be, and the same is hereby
repealed, and instead thereof the following shall be the
fifth article of said section: Article fifth, The issues or
notes usually denominated bank notes, which it shall
be lawful for the said corporation to issue, shall not be
for a less sum than five dollars, and shall not ex-
ceed double the capital stock actually paid into said
bank.

Discounts — in
what money
to be paid.

SEC. 7. And be it enacted, That it shall not be
lawful for said bank to make discounts in, or pay out
any funds or money other than the legal currency of
the United States, notes issued by authority of their
charter, and notes of other banking corporations received
at their par value by said bank.

Lability of
stockholders.

SEC. 8. And he it enacted, That the stockholders
and directors of said corporation, shall be liable to the
amount of their respective share or shares of stock in
said corporation, for all its debts and liabilities, upon
note, bill or otherwise, and upon the further condition,
that no director or other officer of said corporation shall
borrow any monies from said corporation, and if any di-
rector or other officer shall be convicted upon indictment
of directly or indirectly violating this section, he shall
be punished by fine or imprisonment at the discretion of
the court, and upon this further condition, that this act
and every part of it, may be altered from time to time,
or repealed by the Legislature.