which the

bank shall at any time owe, including the monies then actually deposited in the bank for safe keep- Amount ing, whether by bond, bill, note or other contract, of debts shall not exceed, in the aggregate, the sum of two bank may millions four hundred thousand dollars; unless the owe. contracting of any greater debt shall have been previously authorized by a law of this state; in case of excess the directors under whose administration it shall happen, shall be liable for the same in their private capacities, and an action of debt may in such case be brought against them, or any of them, their or any of their heirs, executors or administrators, in any court of this state, having jurisdiction, by any creditor or creditors of the said corporation, and may be prosecuted to judgment and execution; any condition, covenant, and agreement to the contrary notwithstanding: But this shall not be construed to exempt the said corporation, or the lands, tenements, goods or chattels of the samne, from being also liable and chargeable with the said excess. Such of the said directors who have been absent when the said excess was contracted or created, or who may have dissented from the resolution or act whereby the same was so contracted or created, may respectively exonerate themselves from being so liable, by forthwith giving notice of the fact and of their absence or dissent, to the governor of the state, and to the stockholders at a general meeting, which they shall have power to call for that purpose.

hold lands

16th. The lands, tenements and hereditaments Corporawhich it shall be lawful for the said corporation to tion may hold, shall be only such as shall be requisite for its and teneimmediate accommodation, in relation to the con- ments. venient transacting of its business, and such as shall have been bona fide mortgaged to it by way of security, or conveyed to it by way of security, or conveyed to it in satisfaction of debts contracted in the course of its dealings, or purchased at sales upon judgments which shall have been obtained for such debts..

holders may be

17th. The stock of the bank shall be assignable Stock to be and transferable according to such regulations as assignable. may be instituted in that behalf by the directors. 18th. A meeting of the stockholders may be Meeting of called at any time by the president and directors, the stock or by any director who protests against the proceedings of the board, and who wishes the propriety of his dissent to be considered by the stockholders; or whenever the holders of seven hundred shares, and upwards, shall require the same, Provided, however, That no such meeting shall be deemed regular, unless ten days notice be given of the intention to call the same, in at least two public gazettes.

alled.

are to be

19th. The accounts of the corporation shall be When the balanced to the last day of June and December, in every year; and a dividend shall be declared balanced, every half year, of so much of the profits as shall and a divi- appear to the directors adviseable, and at the expiration of every fourth year, from the first day of January next, the directors shall lay before the stockholders at a general meeting, for their information, the amount of surplus profit, if any, after deducting losses and dividends.

dend de

clared.

And be it further enacted by the authority aforeCorporati. said, That the said corporation shall not be peron not to mitted to purchase or hold any public debt whator hold pu- ever, except what may be subscribed by the state blic debt. as part of the capital, and except such as may be

purchase

bona fide pledged to the said corporation on monies loaned by it; nor shall the said corporation, directly or indirectly, deal or trade in any thing, except bills of exchange, gold or silver bullion, or in the sale of goods and public stock, really and truly pledged for money lent and not redemed in duc time, or of goods which shall be the produce of its lands; neither shall the said corporation take more than at the rate of one per centum discount for sixty days, for or upon its loans or discounts, except as may herein after be excepted.

of credit,

ment.

And be it further enacted by the authority aforesaid, That the bills obligatory and of credit, under Bills oblithe seal of the said corporation, which shall be gatory and made to any person or persons, shall be assignable assignable by indorsement thereupon, under the hand or by indorsehands of such person or persons, and of his, her or their assignee or assignees, and so as absolutely to transfer and vest the property thereof in each and every assignce or assignees successively, and to enable such assignee or assigaces to bring and maintain an action thereupon in his, her or their own name or names. And bills or notes which may be issued by order of the said corporation, signed by the president, and countersigned by the principal cashier or treasurer thereof, promising the payment of money to any person or persons, his, her or their order, or to bearer, though not under the seal of the said corporation, shall be binding and obligatory upon the same, in the like manner, and with the like force and effects as upon any private person or persons, if issued by him, her or them, in his, her or their private or natural capacity or capacities, and shall be assignable and negotiable in like manner as if they were so issued by such private person or persons, that is to say: those which are, or shall be payable to any person or persons, his, her or their order, shall be assignable by indorsement in like manner and with the

like effect as foreign bills of exchange now are, and those which are or shall be payabic to bearer, shall be negotiable and assignable by delivery only.

deal or

And be it further enacted by the authority aforesaid, That if the said corporation, or any person Corporati or persons for or to the use of the same, shall deal on not to or trade, in buying or selling any goods, wares, trade in merchandize or commodities whatsoever, contrary buying or to the provisions of this act, all and every person goods. selling and persons by whom any order or direction for so dealing or trading shall have been given, and all and every person and persons who shall have been

concerned as parties or agents therein, shall forfeit and lose treble the value of the goods, wares, merchandize and commodities, in which such dealing and trade shall have been; one half thereof to the use of the informer, and the other half thereof to the use of the state, to be recovered with costs of suit.

And be it further enacted by the authority aforesaid, That no director, oficer, clerk or servant of the said corporation, or of any other bank or banks of discount or deposit within this state, shall be concerned, either directly or indirectly, in the practice of advancing or loaning out monies at an illegal rate of interest, whether the same be done or effected under the form and colour of a purchase or exchange of notes, acceptances, due bills, checks on banks, acknowledgments, or in any other way or manner whatever; and all and every such director, officer, clerk or servant of this or any other bank as aforesaid, who shall be concerned as aforesaid in such practices, shall, in addition to the usual penalties imposed by law, forfeit and pay for cach offence, the sum of two thousand dollars, to be recovered by action of debt in any court of record in this state; one half to the use of the informer, and the other half to the use of the state, and to be levied of the goods and chattels, and houses, lands, tenements, and other hereditaments and real estates of the person or persons so offending, if any he or they shall have; and on failure of any property to answer the said penalty, by a return of nulla bona, the person or persons so offending, shall and may be taken on execution upon a capias ad satisfaciendum, and being so taken, shall not be entitled to the benefit of any act made for the relief of insolvent debtors, until he or they shall have remained and been confined in prison for the term of six months at least. And any such person, being convicted by the verdict of a jury, of any of the practices aforesaid, whether he be a director, or

An ACT to authorize Josiah Pendarvis, together with his issue, to change their present surname of Pendurvis, to that of Bedon.

W

HEREAS Josiah Pendarvis has petitioned the legislature to change his present surname, together with that of his present and future issue, to Bedon:

Be it therefore enacted by the honorable the Senate and House of Representatives, now met and sitting in general assembly, and by the authority of the same, That the said Josiah Pendarvis, together with his present issue, be, and they are hereby authorized to change their present surname to that of Bedon; and that he and they, shall hereafter be known and distinguished in law, and in all transactions in law, wherein he or they may be bound or obliged, or wherein any person or persons may be bound or obliged to him or them, by

no other surname than that of Bedon.

In the Senate House, the eighteenth Day of December, in the Year of our Lord one thousand cight hundred and two, and in the twenty-seventh Year of the Independence of the United States of America.

JOHN WARD, President of the Senate. ROBERT STARK, Speaker of the House of Representatives.

An ACT authorizing the Commissioners for dispos ing of the public land in the town of Columbia to deliver up certain bonds therein mentioned, and to convey certain squares to the Trustees of the South-Carolina College.

W

HEREAS the board of trustees of the College of South-Carolina, in locating the spot which appeared to them the most proper for the site of the above mentioned college, have discovered that parts of the squares comprised therein have been sold to private persons, who are willing to relinquish their purchases:

Be it therefore enacted by the honorable the Senate and House of Representatives, now met and