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1812.
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12. The shares of stock shall be transferable on
the books of the Bank only, according to such rules
as shall be established by the president and directors;
but all debts actually due and payable to the Bank by
a stock-holder requiring a transfer, must be satisfied
before such a transfer shall be made, unless the presi-
dent and directors shall direct otherwise.
13. The lands, tenements and hereditaments which
it shall be lawful for the corporation to hold, shall be
only such as shall be requisite for their immediate ac-
commodation in relation to the convenient transac-
tion of their business, and such as shall have been
bona fide mortgaged or conveyed to them by way of
security, or in satisfaction of debts contracted in the
course of their dealings, or purchased at sales upon
judgments which shall have been obtained for such
debts.
14. All bills and notes which may be issued by
order of the said corporation, signed by the presi-
dent, and countersigned by the cashier thereof, pro-
mising the payment of money to any person or per-
sons, his, her or their order, or to bearer, though not
under the seal of the said corporation, shall be bind-
ing and obligatory upon the same, in the like manner
and with the like force and effect, as upon any private
person or persons, if issued by him or them, in his,
her or their private or natural capacity or capacities,
and shall be assignable and negotiable in like manner
as if they were so issued by such private person or
persons, that is to say: Those which shall be paya-
ble to any person or persons, his, her or their order,
shall be assignable by endorsement, in like manner
and with the like effect, as foreign bills of exchange
now are, and those which are payable to bearer, shall
be negotiable or assignable by delivery only.
15. That the Treasurer of the Western Shore for
the time being, shall be furnished once every year,
or oftener if required, 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 monies
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 statements;
but nothing herein contained shall be construed to
imply 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
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