Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1810-09-28

a citizen of the United States, and bona
6ds Stakeholder to the amount OF at least
FIVE thousand dollars. But if any person
shouldl be elected as President or Director
who shall not at the time OF his eec-
ton be qualified under this and the tore
Going article, he shall be allowed thirty
DAYS TO quality himself, and during the
term oil his disqualification he shall not ex'
ercise or periusm any of the duties appef-
tanning to his appointment, but if he does
not within this period qualify himself as a,
foresaid, his appointment Shall be deemsd
void. and the Board OF President and Di-
.rrc1ors taay proceed to fill the vacancy.
4rt;cle 10. The President and Directors
shall as soon as they may deem 1t exPedl-
ent, declare a dividend OF profits, aud evsry
half wear thereafter, shall make and declare
such dividends oil profit as they may deem
proper-but no dividend shall be declared
except by majority of all the Directors.
article IL. A majority OF the whole num-
her ofDirecsors shall be necessary in the
choice OF the President and Cashier, but
three members with the President may
constitute Bosrd for trsnsacslng the ordl-
nary business OF the Bank.
5yticle ~. The President and Directors
Shall keep book 10 which their proceed
inps. at their meetings as a Board, shall be
regularly recorded, add upon every question
which may occur, the ayes and noes there
upon shall be noted, which record book
shall at all times be open tothe inspection OF
any Stockhoider, not being q director, Oil
Ger or servant of any other Bank, who shall
81, nurths previous to his application be
the proprietor Of stock 20 tas amount OK
three thousand dollars.
Ayticle IS. Any number Of Stockholders,
not exceeding twenty, owning together,
stock 10 the smouns OF fry thousand dol
lars. tor the space OF SIX months, sha'i he at
liberty 20 call meeting at any tl4hs OF the
Stockholders, K rnay sppo'ns three OF she'r
number as a committee to examins into the
.tate & condition Of she bank, q the mansssE
in which its affairs have bren Conducted
proo;ded that no member cf such coalmi
shall be a director, presidents Or oshsr o&csF
or servant Of any other hank.
Ayticls IL. The Prssid.n. and Cashier
shall respectively give bond and security,
and also take an oath for the fe;sh'u. dis
charge OF their du,ies--thc presidsns m the
sum of twenty thousand dollars, and the
Cashier in the sum OF thirty thousand dol.
lars; the other oflcsrs and ssrvsuss shall
also take an oath end enter n,o bond & Sc
curity, in such sums as the President and
Directors may prescrieu.
6yt:cle Is. The total amount of Bank
Notes and 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 in Bank for
safe keeping: Il being the decided 'ntsnt'oo
of this article, that the engagements Of the
Bank for the payment OF money, shali 10 no
instance w whatever exceed It's actual and ct
hcient means OF payment.
article l6. All bills, bonds, notes and
every contract or engagement 90 behalf of
the Company for the payment of money,
shall be signed by the President and couG-
tersipned by the Cashier, and the funds OF
the Company shall in nc case be liable for
any contract or engagement, unless the same
shall be signed and cOunsersigaed as afore.
said.
article II. The Shsres of the Capital
Stock shall be transferable at any time, &C
cording to such rules as may be established
bv the President and Directors. But no
Stock shall be transferred, the holder there
of being indebted to the Bank, until such
debt be satisfied, except the President and
Directors shall otherwise order IL.
Article l8. Every Ssoekhoider, whether
he be so by original subscription or by trans
fer, shall be considered as member OF chs
association, and when he ceases to De
Stockhoder he shall cease to be member.
-Artic!e 10. 1t shall be the duty OF the