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13. AND BE IT ENACTED, That before the president
and directors shall act as such they shall take an oath, or affir-
mation, that they will faithfully, diligently and honestly, per-
form the duties of their station; and the other officers of the
bank shall take a similar oath, or affirmation, and shall give
band with security, to the satisfaction of the board of directors,
for the faithful discharge of their duties in their several sta-
tions.
14. AND BE IT ENACTED, That all notes offered for
discount in said bank by any person or persons, shall on the
face thereof be made negotiable at the Bank of Westminster,
and when the drawer shall not reside in Westminster, such note
shall be made payable at the house of sonic person in West-
minster, and notice given by the proper servant of the bank at
such house that such note hath become due, shall be to all in-
tents and purposes held and considered to be as completely
binding on the drawer and endorsers as if notice had been per-
sonally served on each of them.
15. AND BE IT ENACTED, That no subscriber or
stockholders, or member of the said company, shall be an-
swerable in his person or individual property for any contract
or engagement of said company, or for any losses, deficiencies,
or failures of the capital stock of said company, but the whole
of the said capital stock, together with all property, rights and
credits, belonging to the said institution, and nothing more,
shall at all times be answerable for demands against the said
company.
16. AND BE IT ENACTED, That all persons who shall
become subscribers to the said bank, their successors and as-
signs, shall be and they are hereby made a corporation and bo-
dy politic, by the name and style of The Bank of Westmin-
ster, and by that name shall be and are hereby made able and
capable in law to sue and be sued, plead and be impleaded,
answer and be answered, defend and be defended, in any court
of record, 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.
17. AND BE IT ENACTED, That the total amount of
the debts which the said corporation shall at any time owe,
whether by bond, bill, note or other contract, shall not exceed
double the amount of the capital actually paid into the said
bank; Provided, that, the money deposited in the said hank
for safe keeping, shall not be considered as the debts of the
bank within the provisions of this clause, unless the contract-
ing of any greater debts shall have been previously authorised
by a law of the state. In case of excess the directors under
whose administration it shall happen, shall be liable for the
same in their natural or private capacities; and an action of
debt may in such case be brought against them, or any of
them, or their heirs, executors or 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 execu-
tion, any condition, covenant or agreement to the contrary
notwithstanding; but nothing herein contained shall be con-
strued to exempt the said corporation, or the lands, tenements,
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Dec. Sess.
1815.
President &c
to take an
oath.
Negotiable
notes.
Liability.
Style--effect
in law.
Debts.
Proviso.
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