|
|
DEC. SESS.
1814.
|
the said corporation, signed by the president and coun-
tersigned by the cashier thereof, promising the payment
of money to any person or persons, his, her or their or-
der, or to bearer, though not under the seal of the said
corporation, shall be binding and obligatory upon the
same, in the like manner, and with the like force and ef-
fect as upon any private person or persons if issued by
him or them in his, her or their private or natural ca-
pacity or capacities, and shall be assignable and negoti-
able in like manner as if they were so issued by such
private person or persons; that is to say, those which
shall be payable 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 ex-
change now are, and those which are payable to bearer,
shall be negotiable or assignable by delivery only. That
as soon us the second instalment shall have been paid
by the stockholders to the commissioners, or any five or
more of them herein before named, it shall be the
duty of the said commissioners, or any five or more
of them, to appoint a day and place for the election of
the directors; which day shall be within thirty days
thereafter, and notice thereof given at least ten days be-
fore such election; and that upon the payment of the third
instalment, the said directors are hereby authorised to
commence the operations of the bank.
|
|
|
|
Bank shall
subscribe to
the Baltimore
and Havre de
Grace turn-
pike road.
Term of en-
actment.
Proviso.
|
27. AND BE IT ENACTED, That the said Havre-
de-Grace bank shall subscribe for four hundred shares
in the Baltimore and Havre-de Grace turnpike road com-
pany, agreeably to the terms and conditions prescribed
by the charter of the said turnpike road company.
28. AND BE IT ENACTED, That this act shall
continue in force until the expiration of the year eighteen
hundred and thirty five, and until the end of the next
session of assembly thereafter; Provided the said Havre-
de-Grace bank shall, within six months after it goes into
operation, make known to the executive of the state its
acceptance of, and compliance with the provisions and
requisites prescribed in the seventh section of an act en-
titled, "a supplement to an act to incorporate a company
to make a turnpike road leading to Cumberland, and
for the extension of the charters of the several banks
in the city of Baltimore and for other purposes" passed
on the twenty seventh day of January in the year eigh-
teen hundred and fourteen.
|
|
|
|
Passed Jan. 23,
1815.
May loan to
the state.
|
CHAPTER 70.
An act relating to the several banks within this state.
SEC. 1. BE IT ENACTED by the General Assembly
of Maryland, That it shall be lawful for the president and
directors of any bank incorporated by an act of the ge-
neral assembly of this state, to loan to this state any sum
of money not exceeding the amount of the capital actu-
|
|
