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Session Laws, 1795
Volume 647, Page 25   View pdf image
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JOHN H. STONE, Efquire, Governor.

1795.

trading fhall have been given, and all and every perfon and perfons who fhall have
been concerned as parties or agents therein, fhall forfeit and lofe treble the value
of the goods, wares and merchandifes, and commodities, in which fuch dealing
and trade fhall have been, one half thereof to the ufe of the informer, and the
other half thereof to the ufe of the ftate, to he recovered with coils of fait.
17. That if the faid corporation fhall advance or lend any fum for the ufe or on
account of this ftate, the United States, or any particular ftate, to an amount ex-
ceeding fifty thoufand dollars, or of any foreign prince or ftate, unlefs previoufly
authorifed thereto by a law of the ftate, all and every perfon and perfons by and
with whofe order, agreement, confent, approbation or connivance, fuch unlaw-
ful advance or loan fhall have been made, upon conviction thereof, fhall forfeit
and pay, for every fuch offence, treble the value or amount of the fum or fums
which fhall have been fo unlawfully advanced or lent, one fifth thereof to the ufe
of the informer, and the refidue thereof to the ufe of the ftate. 18. The total
amount of the debts which the faid corporation fhall at any time owe, whether
by bond, bill, note, or other contract, fhall not exceed double the amount of the
capital actually paid into the faid bank; provided, that the money depofited In
the faid bank for fafe-keeping fhall not be confidered as the debts of the bank
within the provifion of this claufe, (unlefs the contracting of any greater
debt fhall have been previoufly authorifed by a law of the ftate;) in cafe
of excefs, the directors, under whofe adminiftration it fhall happen, fhall
be liable for the fame in their natural and private capacities, and an ac-
tion of debt may in fuch cafe be brought againft them, or any of them, or
their heirs, executors or adminiftrators, in any court of record in this ftate,
by any creditor or creditors of the faid corporation, and may be profecuted to
judgment and execution, any condition, covenant or agreement to the contrary
notwithstanding, but nothing herein contained fhall be conftrued to exempt the
faid corporation, or the lands, tenements, goods or chattels of the fame, from
being alfo liable for and chargeable with the faid excefs; and fuch of the faid di-

rectors who may have been abfent when the faid excefs was created, or who may
have diffented from the resolution or act whereby the fame was created, may re-
fpectively exonerate themfelves from being fo liable, by forthwith giving notice
of the fact, and of their abfence or diffent, to the governor of the ftate, and to
the ftockholders at a general meeting, which they fhall have power to call for
that purpofe. 19. That the treafurer of the weftern fhore for the time being
fhall be furnifhed, once every year, or oftener if required, with ftatements of
the amount of the capital flock of the faid corporation, and of the debts due to
and from the fame, of the monies depofited therein, of the notes in circula-
tion, of the cafh in hand, and of the profits made, and fhall have a right to in-
fpect fuch general accounts in the books of the bank as fhall relate to the faid
ftatement, but nothing herein contained fhall be conftrued to imply a right of
infpecting the account of any private individual or individuals with the bank,
nor fhall fuch general ftatement and power of infpection be ufed for any other
purpofe than to enable him to form a juft opinion of the ftate of the inftitution,
relative to the public fafety, and of the profits thereof, over which he is hereby
appointed guardian, as far as the fame relates to the ftate. 20. Whenever the
ftate fhall become a ftockholder to an amount not lefs than fixty-fix thoufand
dollars, it fhall be entitled to appoint two directors, whofe election fhall be made
during the firft feffion of each general affembly; that is to fay, one director fhall
be annually chofen by the fenate, and one by the houfe of delegates, in their re-
fpective places of fitting. 21. That the capital ftock and funds of the bank
fhall be deemed and taken to be perfonal, and not real eftate. 22, The notes or
bills obligatory which it fhall be lawful for the faid corporation to iffue fhall not
be for a lefs fum than five dollars.

C H A P.

XXVII.

XIII. This act to continue and be in force for and during the term of twenty
years from the paffage thereof, and until the end of the next feffion of affembly
that fhall happen thereafter.

Duration.



 
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Session Laws, 1795
Volume 647, Page 25   View pdf image
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