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{or affirm) that the flock of C. D.
whom you now represent, is to
the befl of your knowledge and
belief, the property of the said
C. D. and that no other person or
persons is or are concerned there
in ~\ And any flock-holder refkrf
ing to take such oath or affirmation,
ffiai! not be allowed to vote at such
eleClion. ~
Ru!es. Any person or perfons*
holding or fubferibing for flock in
the said bank, in the name or in
trufl for minors, fhail, to all in
tents and purposes, relating to this
aCt, be viewed and taken as hold
ing or fubferibing such flock,
in the name or names of such per
lcn.or persons so holding or iub
feribing, and in voting at any meet
ing of flock-holders, such persons
ihall be entitled to vote in such
proportion only, as if the flock
of such minor or minors was the
foie and exclusive property of the
person or persons so voting.
R.ule 6. A fair and correct lift
of the flock-holders fhali be made
cut, at lead two weeks before any
eleClion of directors, to be fub
rniited to the iafpeCtion of any
flock-holder who fhali require to
fee trie fame, to the end that pub
lic information may be given to
the parties concerned, of their co
proprietors and (lock-hoiJers.
Rule 7. No direCtor of any o
ther bank ffiall be eligible as a di
rector of this corporation, neither
ffiall any flock-holder who is not
a citizen of the United States be
eligible as a dircCtor,
Rule 8. Not more than three
founds of the directors, executive i
of the prefideat and the four ap- ]
pointed by the legifhturk, (hall bs i
eligible! for the next fucceedivig |
•yiu But the- do rector. w.ha-(h.:JiJ
be president at the time of any e
le&ion may always be re-elected. .
Rule 9. No less than fix di
reSors (hall cbnftitute a board for
the transaction of bufmefs, of
whom the president sh ill always be
one, except /in case of sickness,
or necessary absence, in* which
case his place may be supplied by
any other director, whom he, by
writing under his hand, fhali no
minate for the purpose, and in
default of such nomination by the
president, or in case of the sick
ness or necessary absence of the
person so appointed, in either e
vent, the board of directors may,
by ballot, appoint a temporary pre
sident.
Rule 10. The directors fhali
keep fair and regular entries in a
book, to be provided for that pur
pose, of their proceedings, and on
any question, where two direct
ors fhali require it, the yeas and
nays of the directors voting fhali be
duly infer ted on their minutes, and
those minutes, be at all times on
demand, produced flock
holders, when at a general meet
ing, or to the legiilature, or any
committee thereof, who ffiall re
quire the fame.
Rule 11. The flock-holders
ffiall allow such compensation to
t-iiv fervfcesp&S
may appear to them reasonable.
Rule 12. Every calhier and o
ther officers appointed by the di
rectors, before he or they enter
on the execution of his or their
duty, fhali give bond with two
or more fee unties, to the fatis
faCtion of the directors, in a sum
to be agreed on by the board of
directors, conditioned for hjs or
their good behavior. *
Rule 13. fwip ;f
calhier shall take the following
oath,* on entering on the duties
of their refpetfiyfc offices f “ that
they will well and faithfully dis
charge the duties thereof.”
Rule 14. The total amount of
the debts which the bank lhall at
any time owe, including the mo
nies then a&ually deposited in the
bank for fafe keeping, whether
by bond, bill, note, or other con
trad, (hall not exceed in the ag
gregate the sum of two millions
of dollars, unless the contracting
of any greater debts shall have
been previously authorifed by a
law of this flafe ; in case of ex
cels, ther dirtClors under whose
administration it shall happen, fliall
be liable for the fame in their
private capacities, and an a&ion
of debt may in such cases be
brought agaiiift them, or any of
them, their, or any of their heirs,
executors or administrators, in a
ny court of this state having ju*
liididion, by any creditor or cre
ditors of the said corporation, and
may be prosecuted to judgment
and execution, any condlrio'n7~'to
venant and agreement to the con
trary notwithstanding. Rut this
fliall not be construed to exempt
the said corporation, or the lands,
tenements, goods, or chatties, of
the fame, from being also liable
and chargeable with the said ex
cels. Such of the laid directors
who have been absent when the
said excels was contraded or cre
ated, or who may have dissented
from the resolution or act where
by the fame was so created or
contracted, may refpedively ex
onerate themse lves from being so
liable, by forthwith giving notice
fT f .d> and of their absence„
or dissent, to the governor or the
state, and to the flock-holders at
a general meeting, which they fliall
hive power'to call for that pur
pose.
Rule 15. The lands, tenements
and hereditaments which it shall
be lawful tor the said corporation
to hold, shall be only such as shall
be requisite for its immediate ac
commodation, in relation to the
convenient tramactino: of its bu
siness, and such as fliall have been
bona fide mortgaged to it by way
of security, or conveyed to it hi
fatisfactioii of debts contracted in
the course of its dealings, or pur
chased at fates upon judgments
which fliall have been ob'.ained lor
such debts.
Rule 16. The flock of the bank
shall be assignable and transferable
according to such regulations as
may be mftituted in that behalf by
the directors.
Rule 17. A meeting of the
flock-holders may be called at any
time by the president and direct
ors, or by any director who pro
tefls against the proceedings of the
bank, and who wishes the proprie
ty of his dissent to be considered
by the flock-holders, or whenev
er the holders of three hundred
fliares and upwards, shall require
the fame. Provided however, that
no such meeting (hall be deemed
regular, unless sixty days notice
be given of the intention to call
the fame, in at leafl two public
gazettes.
Rule 18. The accounts of the
corporation fhail be balanced to
the ialt day of June and Decem
ber of every year, and a dividend
shall be declared every half year,
of so much of the profits as fliall
Appear to the diredors advisable 5 |
•nd at the expiration of tyeryj
■fourth year, from the second WK|pitj
of next, the direHP
ors shall lay before the flock-hold
ers at a general meeting, for their
information, the amount of fur
pi us profit, if any, after deducting
losses and dividends,
Sec. 5. And be it further en
abled by the authority aforesaid ,
That the said corporation fliall not
be pe permitted to purchase or
Jhold any public debt whatever,
exempt what may be fubferibed by
the Rate, as part of the capital,
and except such as may be bona
fide pledged to the said corpora- |
tion on monies loaned by it; nor i
shall the said corporation diredly \
or indiredly deal or trade in any *
thing, except bills of exchange, 1
gold or fitver bullion, or in the
sale of goods or public flock, re- !
ally and truly pledged for money
lent, and not redeemed in due
time, or of goods which shall be
the produce of its lands ; neither !
fliall the Laid corporation take more 1
than at the rate of fix per centum j
per annum for or upon its loans
<<difc o u nts. ..... -1# .
And be it further en
abled by aforesaid,
That the bills obligatory, and of
credit under the leal of the said
corporation, which shall be made ;
! to any person or persons, shall be !
assignable by indorfement thereup- !
on, under the hand or hands of
such person or persons, and of his,
her or their assignee or assignees, ;
and so as abfolutdy to transfer 1
and veil the property thereof in
each and every assignee or assign
ees fuccdlively, and to enable such
assignee or assignees to bring and
maintain an action thereupon in
their nime or names.
And bills’ m* notes which may be
may be issued hy order of the said
corporation, signed by the presi
dent, and counterftgned by the
j principal calhier or treasures there
j of, promising the payment of mo-
J ney to any person or persons, his,
■ her or their order, or to bearer,
j though not under the seal of the
said corporation, lhall be binding
and obligatory upon the fame, in
the like manner and with the like
1 force and effects as upon any pri
! vate person or persons, if issued by
; him, her or them, in his, her or
tneir private or natural capacity ;
or capacities, and fliall be assign- j
able and negotiable in like man- ;
ner as if they were so issued by ■
luch private person or persons, ]
that is to fay ; those which are j
or fliall be payable to any person j
or persons, his, her or their order,
fhail be assignable by indorfement- j
in like manner, and with the like j
effect as foreign and inland bills j
ot exchange now are, and those -i
which are or fliall be payable to |
bearer, shall be negotiable and af
j fignable by delivery only.
Sec. 7- And be it further en
j acted by the authority aforesaid ,
That if the said corporation, or
any person or persons for or to
the use of the fame, shall deal or
1 trade, in buying or felling any
! goods, wares, merchandize or
commodities whatsoever, contrary
to the provisions of this ad, all
and every person and . persons by
whom any order or diredion for
so dealing or trading shall have
been given, and all and every per
son and persons who shall have
been concerned, as parties or a
gerko therein, fliall forfeit and lose
* • 01 the rrnnJ
! ik and cL Js > I
which such I
trade (hall have b aan 3
half thereof to the use of [u C ? e ft
former, and the other half* 8
r= of , ta w I
with cofls of suit. m
S. 8. And be it furth- i
aded by the authority C §
lhat one thousand, five 1
fliares fliall be fubferibed ft a* 1
state, in the following
tnat is to fay: that it shall anA!
may be lawful for the comp tr „i |
ler-general of the finances of C $
state, or in case ol the abolffl
of his office, or of his death T I
fignation or absence from the ftakl
for the person or persons who trail
be hereafter appointed by the I*l
giflature for the purpose, anclfyjg
or they are hereby authorized aril
and required, to cause a ffiblcrkl
tion of one hundred and fifty thou.!
sand dollars, to be made to the!
flock of the said corporation 0 r ■
bank, as part of its capital, anil
that the laid sum of one hundred!
and fifty thousand dollars, so -to|
be fubferibed, be paid to the said i
bank as follows : that the fund 1
ed debt of the United States, tijJ
property of this state, amounting*
to twenty-three thousand, nine!
hundred and eighty-five dollars J
sixty cents, be paid into the hands!
of the directors as soon as the firtt!
election of the fame shall take!
place, and the remaining fuml
under and by direction of the!
comptroller, or person or perfonJ
herein before mention and, a? ikg
case may be, in a certificate cri
*
certificates, as may be fount! moll
convenient, bearing an mterefl cl
fix per cent, per annum, to comJ
r&cnce ns form as the said bank {kill
be m operation, which funded!
flock of the
property of this state, and uereC
by di rcSted to be paid into thtg
said bank, and certificate or cerf
tificates, the president and direct#
ors of the said corporation, fha!l|
if they think proper, fell and diffe
pose of, in part or in whole, fori
the use of the said corporation,l
whenever they fee fit so to cio,|j
and the faith of the state is her&r
by pledged, together with thaf|,
proportion of the dividends an#
ing from the bank, for the yf
demption .of the interest and pr®|
ciple of the certificate or cert%;.
cates so to be issued, which cei&.?.’
ficate or certificates the state nw
at any* time take up by
the amount thereof into the b;n;;jL
Provided nevertheless , • an I
further enacted , That when
annual proceeds arising from 1
said bank to the state ffinli 15
be fufficient to dilcharge the
eft'that may be veariy due ‘■.
the state to the bank, that no j
ney shall be drawn from
fury of this flats for the
of the fame. 11
Sett. 9. And be it firth fr f c
aded by the authority
That in case of the death} J. X
ity or resignation, or
the state, of the comptf° __
era), the governor aiffi *
er in chief for the traie -d
(hall be and he is „
and required to appoint
miflion fome fit and P ro P e : Cfj
to perforin the duties el! j°‘ j(’
.or entrusted to the t j
general under and rn r • | v ,
of this aa, except as to %
ties preferred and prcvi^cu