CHAPTER CCXXVII.
AN ACT in relation to Banks.
Re it enacted by the Senate and House of Representatives the State of Delaware in General Assembly met, as follows:
SECTION 1. If any bank incorporated by any law of this State Penalty shall hereafter, either directly or by or through the agency or employment of any person, be in any wise concerned in any paper or security of any description whatever, whereby the amount of profit to said bank to arise from said transaction shall exceed the rate of one per cent, for sixty days, such bank shall be deemed and taken to have forfeited its charter; and furthermore, the directors or managers of the affairs of said bank who knowingly and thereto. intentionally, assent to the violation of the foregoing provision shall severally be guilty of a misdemeanor, and on conviction thereof, by indictment, shall be fined at the discretion of the court,: Provided, however, That in case of a draft or bill drawn upon a place between which and the city of Philadelphia there shall be, at the time of the negotiation of such paper or rate of exchange below the par thereof, the bank negotiating such paper shall be allowed to add the exchange to the profit before mentioned and take the whole amount of such profit and exchange and no more; and provided. also, That when application shall be Made for the purchase of a draft on any place other than that Where the business of said bank is transacted, it shall be lawful for the said bank to charge for the accommodation a reasonable exchange. Nothing herein contained shall be held or taken to contravene the usage with banks of taking discount or interest in advance.
Passed at Dover, February 22, 1855.