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CHAP.
XXVII.
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under his hand, fhall nominate for the purpofe. 6. That the ftate may at any
time fubfcribe and become a ftockholder to an amount not exceeding one hundred
and eighty thousand dollars, being the amount of the fix hundred fhares of the
original capital not by this act apportioned among the feveral counties, and for
which the right of fubfcribing is hereby referved to the ftate, but fhall not be
permitted to pay, in the courfe of any one year, a fum exceeding ninety thoufand
dollars, unlefs by exprefs confent of the prefident and directors, previoufly figni-
fied in writing to the ftate, or its agent authorifed to fubfcribe. 7. Any number
of ftockholders, not lefs than fixty, who together fhall be proprietors of two
hundred fhares or upwards, fhall have power at any time to call a general meet-
ing of the ftockholders for the purpofes relative to the inftitution, giving at leaft
ten weeks notice in two public gazettes of Baltimore-town, and fpecifying in fuch
notice the object or objects of fuch meeting. 8. Any perfon, co-partnership or
body politic, failing to pay any inftalment, or part thereof, to the directors, at
the periods prefcribed by this act, fhall lofe the benefit of any dividend which
may have accrued prior to the time for the making of fuch payment, and during
the delay of the fame. 9. Every cafhier or treafurer, before he enters upon the
duties of his office, fhall be required to give bond, with two or more fureties, to
the fatisfaction of the directors, in a fum not lefs than fifty thoufand dollars, with
condition for his good behaviour. 10. The lands, tenements and hereditaments,
which it fhall be lawful for the faid corporation to hold, fhall be only fuch as
fhall be requifite for its immediate accommodation in relation to the convenient
tranfacting of its bufinefs, and fuch as fhall have been bona fide mortgaged to it
by way of fecurity, or conveyed to it in fatisfaction of debts previoufly contracted
in the courfe of its dealings, or purchafed at fales upon judgments which fhall
have been obtained for fuch debts. 11. The corporation fhall not, directly or
indirectly, (except as hereafter fpecified) deal or trade in any thing, except bills
of exchange, promiffory notes, gold or filver bullion, or in the fale of goods
which fhall be the produce of its lands, neither fhall the faid corporation take
mere than at the rate of fix per centum per annum for or upon its loans or dif-
counts. 12. No loan fhall be made by the faid corporation for the ufe or on ac-
count of this ftate or the United States, or of any particular ftate, to an amount
exceeding fifty thoufand dollars, or to any foreign prince or ftate whatever, with-
out the previous confent of the legislature. 13. The ftock of the faid corpora-
tion fhall be afffignable and transferrable according to fuch rules as fhall be infti-
tuted in that behalf by the laws and ordinances of the fame. 14. The bills
obligatory and of credit under the feal of the faid corporation, which fhall be
made to any perfon or perfons, fhall be affignable by endorfement thereupon, un-
der the hand or hands of fuch perfon or perfons, and of his, her or their affignee
or affignees fucceffively, and fhall enable fuch affignee or affignees to bring and
maintain an action thereupon in his, her or their own name or names; and bills
or notes which may be iffued by order of the faid corporation, figned by the pre-
fident, and counterfigned by the principal cafhier or treafurer thereof, promifing
the payment of money to any perfon or perfons, his, her or their order, or to
bearer, though not under the feal of the faid corporation, fhall be binding and
obligatory upon the fame, in the like manner, end with the like force and effect,
as upon any private perfon or perfons, if iffued by him or them in his, her or
their private or natural capacity or capacities, and fhall be affignable and negoti-
able in like manner as if they were fo iffued by fuch private perfon or perfons;
that is to fay, thofe which fhall be payable to any perfon or perfons, his, her or
their order, fhall be affignable by endorfement in like manner, and with the like
effect, as foreign bills of exchange now are, and thofe which are payable to bearer
fhall be negotiable or affignable by delivery only. 15. Each director, cafhier or
treafurer, before he enters upon the duties of his office, fhall take the following
oath, or affirmation, as the cafe may be: " I, ???, do fwear, or affirm,
"that I will faithfully execute the duties of ???? , agreeable to the provifions
"of the law, and the trufts repofed in me, to the beft of my fkill and know-
"ledge," 16. That if the faid corporation, or any perfon or perfons for or to
the ufe of the fame, fhall deal of trade in buying or felling any goods, wares,
merchandife or commmodities whatfoever, contrary to the provifion of this act, all
and every perfon and perfons by whom any order or direction for fo dealing or
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