LEVIN WINDER, ESQ. GOVERNOR.

31

And provided also, That no Director shall be indulged
with discounts beyond five hundred dollars per week.
4. The President and Directors, for the time being,
shall give six weeks notice in the two Elizabeth-Town
news papers, and in one news paper printed in the city
of Baltimore, of the time and place of holding the election
of Directors annually.

DEC. SESS.
1813.

Notice of elec-
tions.

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:) " 1, ———— , do so-
lemnly swear, (or affirm,) that I will impartially, faith-
fully, diligently, and honestly execute the duties of ——
of the Conococheague Bank, conformable to the consti-
tution of the same, and the trusts 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 besides, give bonds, with secu-
rity, to the satisfaction of the President and Directors, for
the faithful discharge of their duties.

Oath of offi-
cers.
Securities.

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 infor-
mation thereof be given, and supported to the satisfaction
of a majority of the board, or quorum of directors, his or
their seat or seats of office shall be vacated, and the di-
rectors shall fill up such vacancy or vacancies.

Case of usury.

7. The corporation shall in no case deal, trade, or be
concerned in any thing but notes, bills of exchange, mort-
gages, stock of the United States, or bullion, except in
the case of debts due to them, then they shall be fully em-
powered to take any kind of security which they can ob-
tain; nor shall the corporation, in any case, be owners of
any ships or vessels, or directly or indirectly be con-
cerned in trade, or the importation or exportation, pur-
chase or sale of any goods, wares or merchandise, lands
and tenements whatsoever, except such ships, vessels,
goods, wares and 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 company take more
than at the rate of six per centum, for or upon their loans
or discounts.

Corporation
restricted.
Rate of inte-
rest.

8. The President and Directors may discount notes or
bills, at any length of time not exceeding six mouths.
9 No loan shall be made by the said corporation, for
the use, or on account of this state, or the United States,
or any particular state, to an amount exceeding the amount
of fifty thousand dollars, or to any foreign prince or state
whatever, without the previous consent of the legislature
of this state.

Period of dis-

count.

Loan to state.

10. The President and five Directors, shall constitute a

Quorum.