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dent and eight directors shall be a board necessary for transact-
ing the general business of the bank.
16. AND BE IT ENACTED, That the president, direc-
tors and subordinate agents of the said bank, shall severally
swear or affirm, on the holy evangelly of almighty God, that
they will faithfully and diligently perform the duties of their
respective stations; and the said subordinate agents shall
moreover give satisfactory security to the president and direc-
tors before they can act as such.
17. AND BE IT ENACTED. That the several banks
which may become stockholders of the said bank, are hereby
made a corporation and body politic, under the name and style
of The Consolidated Bank of Maryland, and by that name
shall be and are hereby made capable in law to sue and be su-
ed, plead and be impleaded, answer and be answered, defend,
and be defended, in any court of record, or in any other place
whatever; and also to make, have and use a common seal, and
the same to break, niter and renew at pleasure, and to make, is-
sue and negotiate promisory notes, and generally to do and
execute all such matters and things as to them shall appertain
under the clauses of this act.
18. AND BE IT ENACTED, That the salaries of the
president and other officers of the said bank, shall be fixed by
a majority of the presidents and directors of the several banks
who shall subscribe to this institution.
19. AND BE IT ENACTED, That the president and di-
rectors shall have power to make and alter at pleasure, all rules
and by-laws deemed necessary for conducting the affairs of the
bank.
20. AND BE IT ENACTED, That whenever the full
amount of the several shares taken and subscribed for, shall
have been completed and paid up in bank notes of the city of
Baltimore as aforesaid, and not before, the president and direc-
tors may commence the operations of the bank.
21. AND BE IT ENACTED, That it shall be the duty of
the cashier of the Consolidated Bank of Maryland to transmit
in succession, monthly by mail, a statement of its affairs, ad-
dressed to the president of the several banks aforesaid, exhibit-
ing the balances due to or from such bank, as the case may be.
22. AND BE IT ENACTED, That the Consolidated
Bank of Maryland shall receive the notes of all such of the
several banks herein before mentioned, as shall have acceded to
the provisions of this act, which, notes shall be counted and
charged to their respective banks, on the day next preceding
the last day of discount in every month.
23. AND BE IT ENACTED, That such banks as shall
suffer adverse balances to remain utter the lapse of one month,
shall be charged with lawful interest thereon.
24. AND BE IT ENACTED, That the books, papers
and correspondence, of the Consolidated Bank of Maryland,
shall at all times be open to the; inspection of the president,
and directors thereof, and the presidents, cashiers, or direc-
tors of the several banks herein before referred to.
25. AND BE IT ENACTED, That no bank, concerned in
the Consolidated Bank of Maryland, shall sell out, or transfer
its stock during the existence of a balance against such bank.
26. AND BE IT ENACTED, That the Consolidated
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Dec. Sess.
1815.
Oath.
Style—ef-
fect in law.
Salaries.
Operations.
Monthly
statements of
affairs to be
transmitted.
Notes to be
received.
Adverse ba-
lances.
Books, &c.
to be opened
for inspection.
Sales and
transfers.
Debts not to
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