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Georgia ®* Carolina 'Gazette. V OLUM2 I.] (BY AUTHORITY.) AN ACT To Incorporate ‘ the Bank of the State cf Georgia. Jin the Iloiife of Representatives. Read i ft. tiipe Bth of Nov. 1804. 2d. time 1 oth Nov. 1804. 3d. time 2 id Nov. 1804. And Faffed. H. HOLT, Clk. In Senate. Read ift. time 23d Nov. 1804. 2d. time 24-th Nov. 1 804. And pojlponed dill the next SeJJiolt cf the Legiflature .} % 7S J HERE AS it is concefv v V cd that the establish tnent of a (late Bank In the city of Savannah, will be productive of confidcrable advantage to the fame, and trade and induflry in general. Therefore, be it en abled by the Senate and Houle of Representatives of the Rate of Georgia, now met and fitting in General Alicmbly, and by the authority of the fame, That a Bank be cflablifhed the capi tal flock whereof (hall be fix hundred thousand dollars ; Pro vided always, that at any time after the establishment of the said Bank, the dire&ors may in crease the said flock to such o ther amount as they shall think proper not exceeding one milli on of dollars, divided into 6,0c0 shares, each share being too dollars, and that subscriptions towards conflicting the said Rock shall, on the iecond Mon day in January next, be opened at the city of Savannah and Au gufla, under the fuperintendance of Edward Telfair, William Ste phens, Charles Harris, George Anderfcn, John H. Morel, Thomas F. Williams fk Jo*. A. Scott, at Savannah, andjofhua Meals, James Murren, John Connie, John Wiilfon, junr. John M'Kennee, Samuel M. Smith and Thomas Barrett, at Augußa, or a majority of them, which subscriptions shall conti nue open until the whole of the laid flock, shall have been lub feribed; and that it shall be lawful for any person, copart ner fbip or body politic to fub feribe for such or so many shares as, he, die or they shall think fir, not exceeding fifty, except as shall be hereafter directed, re latively to the State of Georgia. Provided always. That if the said capital Rock fnall not be filled up in fix months after the the Commifiioners herein ap pointed shall open their books tor subscriptions for that pur pnfe, that then and in that case any person, copartnerfhip or body politic may fubferib'e for such or so many shares as he, foe or they shall thick fir, not exceeding in the whole one hun dred shares: And provided aljo, that if more than the capiral Rock shall be fubferibed the iurplus fral’i be dedudLd from •he highell mur. her cf ih ires. PETERSBURG :—(Georgia) — Printed by BURKE & M'DONNELL. I Ssc. 2. And he it further en { aided, That all tnofe who shall become fubferibers to the said Bank, their fucceflbrs and af signs, shall be and are herebv created and made a corporation and body politic by the name and Rile of (< The Prcfldent, Directors and Company of the Bank of the State of Georgia,” and by that name ftiaii be and are hereby made able and capa ble in law, to have, purchase, receive, pofiefs, enjoy and re- • tain, to tnem and'their fuceef iors, lands, rents, tenements, Hereditaments, goods, chattels and effects, of w.nat kind, na ture or quality f cv*-r, to an a novmt not exceedng in the whole two millions of dollars, including the amount of the capital flock of the said Bank, and the fame to fell, giant, de mfe, alien or difpole of; to sue St be hied, plead Hz be implead ed, anfvver and beanfwered, de fend and be defended in courts of record or any other place whatsoever, and also to make, have and use a common leal, and the fame to break, alter and renew at their pleasure, and also ! to ordain, eftabl.fh and put in execution such bye-laws, ordi nances and regulations as shall seem needfary and convenient for the government of the said corporation not bemg contrary to law or to the constitution thereof, for which putpofe ge neral meetings of the Rock holders shall and may be called by the directors at such time or times aswfco them shall be deem ed necessary and generally to do and execute all and finguiar such abb, matters, snd things which to them it shall or may apper tain to do, fubje<sl nevertheless to the rules, regulations, refine tiens, limitations and provifnns, herein after preferibed and de clared. Sec. 3, And be it further ex alted by the authority aforefatd, That for the well ordering of the affairs of the said corporation, there shall be fifteen directors, four of whom final i be appointed by the Leg fiature, ih the man ner herein after mentioned; and the remaining eleven directors shall be chosen annually, on the second Monday in January in each year, by the private Rock holders or proprietors of the capital Rock of the Rid corpo ration, ancl by plurality of the votes actually given; and thole who shall he duly chosen at any election, shall be capable of serving as directors, by virtue or Rich choice, until the end or expiration of the Monday next annually ensuing the time of such election, and no longer; and the said directors, at taeir fit fb meeting after each cledlion, shall chocic one of their number as president. And in case ot the death, resignation, or uoier.ee from the Siam, or removal of a (hnClor, bv th** fiock-ru rk M s, jiis phtce be filled up by T II U R S D A 2~, Siptembeb 12, 1805. new ch* ice, for the remainder of the year. But fnould it so happen, that an election of di rectors should not be made on tire said second Monday in Ja nuary in each year, or any other day appointed by the flock holders, the said corporation shall not, for that cause, be deemed to be difTolved; but it shall be lawful on any other * day, to hold, and make an elec tion of directors in such manner as may be regulated by the laws and ordinances of the said cor poration, and in case of ‘ the death, resignation, or absence from the Rate, or removal ofall, or either of the directc/rs repre fennnj'm.he Rate in said corpora tion, t uring the rccefs of the leg’fiature, che vacancies shall be filled up by such proper per son or persons as the Governor for the time being, shall or may appoint to serve as director or directors of the said corporation, until anew appointment shall or may be made by the legifiature : Provided always, and it is here by enabled, that as foorr as tfv sum of two hundred thousand dollars'in gold and River shall have been actually received, on account of the subscriptions to the said Rock, notice thereof snail be given by the persons who arc hereby appointed to tuperinfend the fame, or a ma jority of them, :n at lead two Public Gazettes, printed in the State of Georgia, and the said persons shall, at che fame time, in like manner, notify a time and place within the City of Savannah, at the distance of sixty days from the time of such notification, for proceeding to the election of directors; audit shall be lawful for such ele&ion, to be then, and there made, and the persons, who shall then and there be chosen, lhali be the firft directors and shall be capable of serving, by virtue of such choice, until the end or expiration of the second Monday in J anuary next ensuing the time of making the fame, and (hall forthwith thereafter commence the operations of the said Bank, at the laid City of Savannah. Sec. 4. And be it further en abled, That the following Rules, restrictions, limitations and pro visions shall form and be funda mental articles of the Conflitu tionofthe laid Corporation, viz. Rule rfl. The directors for the time being shall have power to elect and remove the Qafhier, and such officers, clerks, and servants, under them, as /hall be nto flirv for executing the busi ness of the said corporation, and allow them such compenlation f ;r their services reflectively as shall be rcafonable. They fnall receive money on deposit and pay away the fame to order, free of expence, difeount bilfi of ex change accepted, and payable in die city of Savannah, and notes, with t o or moire • mod f. nrv -s the cor, c- Rcure: dp a i yuhe of Bank Rock, at a rate of in cereft riot exceeding one per cent, difeount for sixty chys. Provided, the said bills & noes, have not more than ninety divs to run. They shall have pover to ifiue notes signed by the Pe fident, and countersigned by he cashier, on bctialf of the fiid corporation, for such sums end with such devices as they nay deem moft expedient and life. They shall also be capable of executing such other powers md authorities as may be necefiary for the well governing and or dering the affairs of the aid corporation, and of promoing ts incerefls and irs credit, and of such as shall be authorifed by .he rules thereof or by the di rection of the Rock-holders. Rule 2. In voting for direc tors, and all other questions on which the Rock-holders may be called to give their votes, the number of votes to which each liock-holder shall be entitled, shall be according to the num ber of shares he shall hold in the proportion foliowi >g, that is to fay : tor one share, one vote ; tor two shares, two votes; for every two shares above two and not exceed'ng eight, one vote ; for every four shares above eight and not exceeding twenty, < lie vote; for every eight shares above twenty and rvjt exceeding sixty, one vote; for every twelve shares above sixty, and not ex ceeding one hundred, one vote. The Rate by the authority of the majority of their directors shall be entitled to two hundred and forty votes, except in elec tions for directors representing the private Rock holders. The manner iTowever of voting for the directors, for the private Rock-holders, and in all other queßions relating to the officers of the said corporation, shall, at any time be altered by such pri vate Rock holders, at any public meeting, to be for that purpose called, after two weeks previous notice in two public gazettes. Provided, that at f< h meeting’ a majority of all the private shares of the Bank are represen ted, and the holders of two thirds of such fhare3 concur in such alteration. Rule 3. Afrer the firft electi on, .no lharc or shares shall con fer a right of fufifrage which shall not have been holden three ca lender months previous to the day cfeie&ion. No other than stockholders, who are citizens of the United States, in the United States or not, shall be allowed to vote by proxy, or other wife, provided fucli proxy be a stockholder, anti a citizen of the United States. Rule 4. To prevent a division of shares, m order to obtain to the peifori or persons lo divid - ing them an undue influence, the mauap,: rs of elections for direc r. >rs shall admin filer to every Rock ho der o Bering to vote, the ibllovfip.g oath : “ You A. B do [Number 15.