New South Wales Consolidated Acts

BANKS AND BANK HOLIDAYS ACT 1912 - SECT 10

10 Liability of such proprietors to be sued

Every person whose name is so recorded as aforesaid shall be taken to be a member or proprietor of the banking company or firm in which the person’s name is so recorded as aforesaid, and shall be liable to be sued as such until a new list of the names of the members or proprietors of such bank shall be recorded as aforesaid, or until the person has given notice in the Gazette of the person’s retirement from such bank:
Provided that nothing herein contained shall be deemed:

(a) to absolve any person from liability on account of any debts incurred by any such bank during the time such person remained a proprietor or member thereof, or

(b) to render any individual proprietor or member of any bank established by royal charter or letters patent liable for any debts incurred by the same, except so far as the proprietor or member is liable under the provisions of such charter or letters patent.