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Tiiree'Dolls. per anrif]
Volume V.]
(1 31 AUTHORITY.)
AN ACT
so incorporate the Bank of the state
of Georgia .
Will the House of Representatives,
> a d Ist. time Bth Nov. 1804.
-vfe. time loth Nov. 1804. 3d.
dfie 22d. Nov. 1804. And pafs
cd.
H. IIOLT, Clk.
mm ’ . ‘
IN SENATE.
Read Ist. time 23d. Nov. 1804.
’ 3d. time 24th. Nov. 1804, —
and podponed till the next ief
| f lo n of the Legiflature.]
“I X IP conce * v£ d
Jujy that the eftab II foment of
I a'ltatc ~Bao£ ia the city of Savcn-*
’ nab, will T e productive of a con
s fideral le advantage to the fame,
fe trade and inc ‘(try in general.
Therefore, be u enafbd by the Se
nate and House oi Representatives
of the hate of Georgia, now met
and titling ,in General Assembly,
.and by the authority of the fame,
That a Rank be eitabliflied, the
capital flock, whereof {bail he fix
fund.ed thoufed dollars ; Pro
| *isd*a akms, th ,t at any time af
| tcv the effablifexent of the said
feoib, tfie directors may increase
| the said flock to such other amount
fey fhdl thick proper,
r- tig c, ■l 1 J G kdT
foto iix thotifand fan res,
fetch sere being one hundred dpl
i lars, and that iubferiptions towards
conllituthig the said flock fliall, on
£ the fecund, Monday in January
next, be opened at the city ol|Sa*
| vaimah and Augufla, under the
■ fupedntendance of Edward Tel*
f fair, William Stephens, Charles
Harris, George Anclerfon, John
< H. Mord, Thomas F. Williams,
| and Jos. A. Scott, at Savannah,
| and Joshua Meals, J.'.mcs Mnrren,
jAn Connie, John Wilson, junr.
| John M*Khmer, Samuel M. Smith
I hoinas lla uxu, at Auguffo,
i hratnajerity cl them, v. iiictl sub-
I’ kriptfcns fell continue oocn uti
lil the while of the laid dock fell
| Lve been fnbreribed ; and that it
E llidil be lawful for any person, co
’ fenerfhiper body politic to iul>
| icr *fo for such or ib many seres,
25 he, foe cr they Audi think fit,
j act exceeding Any, except as Ihall
he hereafter. drreded, relatively to
c hiefoaie of’ Georgia, Provided al
p that if the said capital dock
I feul net be filled up in fix months
.*>• the copunimoncrs herein ap
-d ihall open their books for
; ! Ijheri-tions for that purpose. that
% and in that case any person,
1 u-meiihip, or body politic, may
j f or foch or ib many ihares
A (he, or they fliall think tit,
m ? ct acceding in the whole one
’and red fliares ; and provided also,
? m ore than the capital dock
he fable rib 6 j the furpius fell
- Inducted from,, the h igh est num*
u o of mares.
p* And he it further enadi
fo* r those who fhail h e ~
fubicrlbers to the said Rank,
1 nga Py’ - IJJ| B| JE& jg?*| *
Washington, (Georgia) Printed weekly for SarahHilujovsb,
their fuccefiors and afligns, fhail
be, and are hereby created and
made a corporation and body po
litic by the name and stile of The
president, directors, and company
of the Bank of the date of Geor
gia,” and by that name fhail be,
and are hereby made able and ca
pable in law, to have, purchase,
receive, pofTefs, enjoy and retain,
to them and their fuccefiors, lands,
rents, tenements, hereditaments,
goods, chatties and effects, of what
kind, nature or quality soever, to
an amount not exceeding in the
whole two millions of dollars in
cluding the amount of the dock
of the said Bank, and the fame to
fell, grant, demise, alien or dispose
of; to foe and be sued, plead
and be impleaded, aaiwer and be
armvered, defend and Le defend
ed in courts of record or any o
ther place whatsoever ; and also
to make, have and use a common
leaf, and the fame to break, alter
ar.u renew at their pfor*fare ; and
also to ordain, edablifli and putin
execution such bye-laws, ordinan
ces and regulations as fhail Lem
necefibre and convenient for the
J
government of the said corporati
on, not being contrary to law or
to the conilitution thereof ; for
which purpose, general meetings
of the {lock-holders fhail and may
he called .by the directors,
tune or times as to them fhail be
deemed ncceffary, and generally to
do and execute all and fmguiar
such acts, matters, and things,
which to them it {hall or may ap
pertain to do, fubjetl nevertheless,
to the rules, regulations, reflric
tio;is,; limitations and provisions,
herein after preferibed and declar
ed.
Sec . 3. And be it further enabl
ed by the authority aforefaid, that
for the well ordering of the affairs
of the said corporation, there fell
be fifteen directors, four of whom
fell 5c appointed by iegfe
iure, in the manner herein after
mentioned *, and the remaining c-
Icven directors fliall be chosen an
nually, on the second Monday in
J muary in each year, by the pri
vate (lock-holders or proprietors
cf the capital flock of the said cor
poration, and by plurality of the
votes adually given ; and thole
who fliall be duly chosen at any e
lefolon, fliall be capable of serving
of serving as directors, by virtue
of such choke, until the end or
expiiation of the Monday next am
nu:;iiv ensuing the ime of fochi e
kftion, and no longer; tk
said direclors, at thgij firft
inET after each eledion, fliall chooL
om of their number, as present.
• And in case of the death, re%n
tion or absence from the late, or
aon, o by the frock
l e ?r ,a hnl A may be filled up
holders, fe the remain
by 3 VI tar But fnould it so
to|> To-d ” lhC
“, tl vc“ or Rotia day ap-
SATURDAY, AUGUST 31, 1303.
7 \
fad corporation fhail not, ior that
exilic,. to be aidolved,
but it fe.ll be lawful on any oth
er day, to hold, and make an e
ledion or dirediors, in such man
ner as may be regulated by the
laws and ordinances of-the said
corporation ; and in case of the
djßßth, re Agnation, or absence from
the hate, or removal of all, or ei
ther of the directors repreitnung
the (late in said corporation, dur
ing the recess of the legislature,
the vacancies {hall be filled up by
foch p oper person or persons as
the governor for the time being,
ihall or may appoint to serve as
cliredor cr directors of the said
C v **pDrat:crs, until anew appoint
ment Ihall or may be made by
the legislature : Provided always,
and it is hereby enacted, that as
loon as the sum of two hundred
thousand dollars in gold and silver
fhail have been actually received,
on account of the iubferiptions to
the laid Hock, notice thereof Ihall
be given by the persons who arc
hereby appointed to superintend
the fame, or a majority of them,
m at dead two public Gazettes,
I oricted m the Hate or Georgia,
or.a tne said persons mall, at tKs v
fame urn.-, and in like manner,
rvptdy a time and plane within the
City of at the dhlance
fA'Piz ry-uays from tiic time cf such
notification, for proceeding vo the
efodion of directors ; and it fell
bt lawful for such election, to be
then, and there made, and the
persons, who fell then and there
. be chosen, ihall be the firft direct
ors, and ihall be capable of serv
ing, by virtue of such choice, un
til the end or expiration cf the se
cond Monday in January, next
enfoing the time of making the
fame, and fhail forthwith thereaf
ter, commence the operations of
the said Bank, at the said city of
Savannah.
See. 4. , And be it further ciiaeic
ed, That the following Rules, re
ftricHons, limitations and provih
6ns, (halt form and be fundament
al articles of the Conilitution of the
laid Corporation, Viz.
Rule i ft. The directors for the
time being ihall have power to c
le& and remove the Caftiier, and
foch officers, clerks, and servants,
under them, as fliall be neceftary
for executing the bufmsfs of the
Lid corporation, and allow them
such compenfotian for their ler
vices refpecfcively as fell be rea
sonable. They |ffiall receive mo.
ney on deposit and pay away the
fame to order, free of expence,
tiiifcount bills of exchange accept
ed, and payable in the ciry nf Sa
vannah, and notes, with two oi
more good names thereon, * or se
cured by a deposit ol Bank {lock,
at a rate of interest not exceeding
one per cent, difoount for sixty
da vs. Provided , the faidfoills
notes have not more than ninety
days to run. They fhail have po
wer to fee notes, irgned by tne
President, and countersigned by
the caihier, on behalf oL the mid
C Pay able half \ early.
[Number 236.
eorpormion, fi.r sod- krns. rr.d •
with inch devices, as they m:.y
deem mo ft expedient and fate.
They fhail also be capable of ex
ecuting Inch other powers and au
thoriiits as may be necufou y for
the well governing and orderin g
afiuirs ol llie said coipc yatloii, and
of promoting irs interests aud its
credit, and of foch ns flirJl be u
thorifod by the ruks thereof, or
by the dirc&ion of tlie ilock-holu
ers.
Ride 2. In voting hr diesa
cis, and all other questions, on
which the flock-holders may be
called to give their votes, the num
ber of votes to which each flock
holder fhail be entitled, foal! be
according to the number of forms
- he fell hold in the proportion fol
lowing, that is to fay : for one
sere, one vote ; for two (hares,
two votes ; for every two forr s
above two and not exceeding eight,
one vote ; for every four seres
above eight, and not exceed fog
twenty, cue vote ; for ev r, so j!t
Ihares above twenty and nit ex
ceeding sixty, one vote ; for ev.
try twelve ihares above sixty, and
not exceeding one hundred, one
vote. The state by the autJ
of the majoiity of their d.ix*c..,rs
focjd Le-xuhtfod to two hundred
and forty votes, except ii clcwli
| ons lor Uurctors rcprilehtiTtg the
t private ftock-nokiu**. Tho mro
ner, however, of voting for the
dire dor % for the private llocfo-
HcTdcrs, and iztrsiJ other quekiomt
relating to the officers of the find,
corporation, fell, at any t me be
altered by such private ftock-hoid
ers, at any public meeting, to be
.for that purpose called, after two
weeks previous notice in two pub
lic gazettes. Provided , that at
such meeting-a majority of all the
private (hares of the Bunk are re
prtfented, and the ho’ders of two
thirds of such seres concur ia
foch alteration.
Rule 3. Aflcr i he firfl electi
on, no sere or (hares firall confer
a right cf fuforage which fhail not
have been holden three calender
months previous to the day of c
ledfion. No other than stock
holders, who are citizens of the
United States, in the United States
or not, fhail be ajlcwed to vote by
proxy, or oilier wife, provided foch
proxy be a flock-holder, and a ci
tizen of th* Untied States.
Rule 4. To prevent a drvifion
of (hares, in order to obtain to the
person or perlons so dividing them,
an undue influence, the managers
of elc&ions for directors foail ad
minister to every flock holder of
forfog to veto,
I You A. B. do fsvear (or ahirm)
, that the flock you now reprefont
is bona fide, your propenv, and
that no other person or persons r.
or are concerned therein, and that
you are a citizen oi the United
Stares,” and to any person voting
by proxv, or for a minor, or
rfoht of or in trust for any other
person entitled to vote, the tollou
tag oath : You A. B. do fwcar
>0