Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1810-10-12

I
a citizen Of the United States, and bona
6de SiockhoIder to the amount OF at lsast
/ Ave thousand dollars. But if any person
/ should be elected as President or Director
who shall not at the time Of his eec-
ton be qualified under TINS and the tore
| going article, he shall he allowed thirty
| DAYS TO quality himself, and during the
! term ot his disqualification he shall not ex.
! ercise or perfo, IN any of the duties apper-
tanning TO hi. appointment, but if he. does
not within this period qualify himself as a,
foresaid, his appointments shall be deemed
void and the Board of President and Di.
rectors may proceed TO fill the vacancy.
Article 10. The President and Directors
shall as soon as they may deem II expedl-
ent. declare dividend oeproflts, and every
half year thereafter, shall make and declare
such dividends of profit as they may deem
prooer-but no dividend shall be declared
except by majority Of all the Directors.
Artiele IL. A majority ofthe whole num-
Der of Directors shall be necessary IN the
choice of the President and Cashier, but
three members with the President may
constitute Board for transacting the ordi-
nary business of the Bank.
dyt;cle IL. The President md Directors
shall keep a book in which their proceed
inps, at their meetings as Board, shall be
regularly recorded, and upon every question
which may occur, the ayes and noes there
uDon shall be noted, whict, record book
shall at all times be open to the inspection or
any Stakeholder, not being director, CHI
Ger or servant of any other Bank, who shall
six months previous to his application be
the proprietor OF stock to the amount o.
three thousand dollars.
Articie Is. Any number OF Stockholders,
not exceeding twenty, owning together,
stock to the amount o. fifty thousand dol
lars, Tor the space ot SIX months, shall he at
liberty to cali a meeting at any ume OF the
Shareholders, & may appolht thee OF their
number as a committee o,txamlns nto the
state g. condiluA Of the bank, & the nlanncr
in which its affairs have been corduc,ed-
ProVidsd mat no nle mDvr CT such committoe
sinai be d director, president or olher olilcer
or servant OF any o,hef bank.
Art,c!e Ia Lie President and Cashier
shall respectively give boad and security,
and also take an path tor the iMihtut DIS
charge OF their dutlrs--lhc President in the
sun of twenty thousand dotiass, and the
Cashier in the sum Ut sh'ty thousand doi-
lars the other officers and servants shall
also tasc an oath aud entcr MO bond s Sc
cufity, in sucir sums AS the President and
Directors may prescribe.
Ayt:cle IS The total amount Of Bank
Notes ard all other engagements OF the
Bank for the payment OF money, shall ne.
yer exceed the amount OF Bank Capital, and
the amount Of monies deposited III Bank tot
safe keeping 1t being the decided intention
of this article, that the engagements Of the
Bank for the payment CT money, shall in no
Instance W haIeysr exceed lis actual and Ct
ficienl means Of payment.
article 16. All bills, bonds, notes and
every contract or engagement On behalf OF
the Company for the payment Of money,
shall be signed by the President and coun-
tersigned by the Cashier, and the funds OF
the Company shall in no case be liable Tor
any contract or engagement, unless the same
shall be signed and counterslgned as atore-
SAID.
dyticle II The Shares of the Capital
Stock shall be transferable at any TING, &C
cord.ng to such rules as may be established
by the President and Directors. But no
Stock shall be transferred, the holder there
ofbeing indebted to the Bank, until such
debt be satisfied, except the President and
Directors shall otherwise order it.
Article IS. Every Stoekho.der, whether
he be SO by original subscription or by trans
Ter, shall be considered as a member Of ;hls
association, and when he ceases TO be d
Stockholder he shall cease to be member
article 10. 1t shall be the duty OF lhe