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the house of some person in the town aforesaid, and notice gi-
ven by the proper servant of the bank at said house, that such
note hath become due, shall be to all intents and purposes held
and considered to be as completely binding on the drawer and en-
dorsers as if notice had been personally served on each of them.
22. And be it enacted, That any director, officer, or other person
holding any share or capital of the said bank stock, who shall
commit any fraud or embezzlement touching the money or proper-
ty of the bank, shall be liable to be prosecuted in the name of the
state, by indictment for the same, in any court of law in this state,
and upon conviction thereof shall, besides the remedy that may be
had by action in the name of the president and directors of the
Bank of Dorchester, for the fraud aforesaid, forfeit all his share
or stock in the said bank to the company.
23. And be it enacted, That all persons who shall become sub-
scribers to the said hank, their successors and assigns, shall be
and they are hereby made a corporation and body politic, by the
name and style of The President and Directors of the Bank of
Dorchester, and by that name shall be and are hereby made able
and capable in law to sue and he sued, plead and be impleaded, an-
swer and be answered, defend and be defended, in any court of re-
cord, or any other place whatsoever, and also to make, have and
use, a common seal, and the same to break, alter and renew, at
pleasure, and to make, issue and negotiate notes, and generally to
do and execute all such acts, matters and things, as to them shall
appertain under the clauses of this act.
24. And be it enacted, That the following rules and provisions
shall form and be fundamental articles of the constitution of the
said corporation.
Article 1st. That the capital stock of the Bank of Dorchester,
shall be managed by the directors for the benefit of the stockholders.
2d. No director of any other bank shall be a director in this
bank, nor shall any two persons, copartners in any kind of busi-
ness, be directors of this institution at the same time; two at least
of the directors elected by the stockholders shall go out annually.
3d. The total amount of the debts which the said corporation
shall at any time owe, whether by bond, bill, note or other con-
tract, shall not exceed double the amount of the capital actually
paid into the said bank; provided that the money deposited in the
said bank for safe keeping shall not be considered as the debts of
the bank within the provisions of this clause. In case of excess, the
directors under whose administration it shall happen, shall .be liable
for the same in their natural and private capacities, and an action
of debt may in such case he brought against them, or any of them,
or their heirs, executors and administrators, in any court of record
of this state, by any creditor or creditors of the said corporation,
and may be prosecuted to judgment and execution, any condition,
covenant or agreement, to the contrary notwithstanding; but nothing
herein contained shall he construed to exempt the said corporation, or
the lands, tenements, goods and chattels, of the. same, from being
also liable for and chargeable with the said excess; and such of the
said directors who may have been absent when the said excess
was created, or may have dissented from the resolution or act
whereby the same was created, may respectively exonerate them-
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Dec. Ses. 1817
Fraud.
Subscribers
incorporated.
Rules and ar-
ticles of cor-
poration.
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