The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1817-06-25

Sec. 80. .fHd be il fursh.r enacted, That
nothing in this acl contained, shall be cons,ru-
cd TO cxonccatc or discharge any member of
aoy of tho aforesaid associations, or tho funds
thereof, from any liability 10 creditors under
pny existing contract, OF on account of any
note, bill or obligation issued or in existence
when this act shall take effect, but such La
bility shall remain in relation to all sueh
notes, bills, obligations or contracts, ~ il this
act had not been passed.
Sec. 90. Ind be ir further enoefed, That
from and after the fourth day Of April next,
it shall not be lawful for any unGbsrered
banking company, or any association, partner.
ship or company Of individuals within the
District Of Columbia, N discount any, notes,
or othcr securities, for the pay ment Of money,
or TO issue notes or bills, whether payable TO
order or bearer, or any other securities,
promises or orders for the payment Of money
Of any such com mpany, or associate, or partner,
: Of any such association or partnership, shall
be held to be guilty Of a misdemeanor, md
for overy such oRencs, upon conviction thtrc-
Of, may be fned in sum not less than one
hundred dollars, nor more than Eve hunlred
dollars. n se6tei., 4
Sec. 30. .fnd be if Jayfhe, enacted, That
whoever, az president, cashier or agent, Of
any such company, or as associate or partner
of any such association og,partnsrship, shall,
after the said fourth day OF April nsxt, sign,
eountersign or endorse any such note, bill or
security, contraryto the provisions Of this
act, shall, ia addition to the aforesaid penal.
tics, DO held to be guilty Of high mIsdsmean-
or, and may be imprisoned from aperiod not
L. skuc "a. "a I've mi be
at tho discretion Of jury.
Sec. 81. Ind be il further snssied, That all
drafts, bills, or other securities for tho pay
Ynent OF money, discounted contrsry.to the
provisions of this act, whether tho same be
payable to any such company, associstioa.or or
partnership, or to any person, as agent or
trustee for such company, association or
partnership, or for the beoeht thereof, and
all contracts, bonds, deeds, penal or single
bills, or other instrument, given to reimburse
or Indemnify any person fer any psymen, or
responsibility incurred BY such person for
any debt contracted by any dealing, contrary
90 the true intent and meaning OF this act,
shall be, and tho ssmo are hereby decrced TO
be, utterly void TO all intents and purposes.
Soc. -. Ind BE Il Further rnaefed, That If
any person, as president, cashier or teller, or
other officer or sgont, Of any such banking
company, or 80 associate or partner in any
soch association or partnership, shall, from
aud after the ssid fourth day Of April next, is
sue or psss into circulation any such note,
bill, draft or other security hereby prohibited
to bs Issued, together with every person as.
senting thereto, shall be deemed aud taken
to have incurred the penalties Of this act,
Notwithstanding the note, bill, or other sc.
cusisy, "a issued, may have boon signed,
coun,ersigncd and endorsed before the com,
msneemont ofthis act.
March 5, ,l8l7--Approved,
~ JAMES MADISON.