Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1810-10-16

r. Ss
hold the Office of Director who IS not
citizen of the United States, and bona
G,ls Stakeholder TO the amount OF at least
FIVE thousand dollars. But if any person
should be elected as President or Director
who shall not at the time OF his Gee
ton be qualified under this and the fore
going article, he shall be allowed thirty
DAYS to qualify himself, and during the
term Of his disqualification he shall not ex-
ercise or perform any Of the duties apper-
tanning to his appointment, but if he does
notwithin this period qualify himself as a,
foresaid, his appointment shall be deemed
void. and the Board of President and Dl.
rec,ors may proceed to fill the vacancy.
drt;cR 10. The President and Directors
shall as soon as they may deem it expedl-
emit, declare dividend of profits, and every
half wear thereafter, shall make and declare
such dividends of profit as they may deem
properZbut no dividend shall be declared
except by majority of all the Directors.
Arsick II. a majority of the whole num-
Der of Directors shall be necessary IN the
choice of the President and Cashier, but
three members with the President may
constitute a Board for .ransacting the ordi-
nary business of the Bank.
article IL. The President and Directors
shall keep book in which their proceed
ings, at their meetings as a Board, shall be
regularly recorded, and upon every quest'os
which may occur, the hyes and noes there
upon shall be noted, whioh record book
shall at all times be open tothe inspection OF
any Stakeholder, not being a director, 9th.
Ger or servant of any other Eank, who shall
six months previous to his application De
the proprietor of stock to the amount OK
three thousand dollars.
article IS. Any number of Stockholders,
not exceeding twenty, owning together,
stock to the amount of fifty thousand dol.
lars, for the space of six months, shall be at
liberty TO call meeting at any time OF The
Stockholders, & may appoint three OF their
number as committee to examine into the
state & condition of the bank, & the manner
ia which its affairs have beea coEducted-
Prooided that no member Of such committee
shall be a director, presidents CT other officer
O. servant of any other Bank.
Ar.icie ID ihe Preaidrns and Cashier
shall respectively give bond and security,
and also take an oath fer The faithful dis
charge Of thci. du,ies-.he President in the
SUN Of tver:y thousand dollars, and the
Cashier in the sum Of .hirty thousand dol
lars; the Other officers aad servants snail
also take an oath and enter into bond & Sc
curity, in such sufns as the President aud
Directors may prescribe.
drt:c.e IS. The total amount CT Banl
Noes and all other engagement, OF the
Bank Tor the payment OF money, shall ne
yer exceed The account OF Bank Capital. and
the amount Of rnoalss deposited IN Sana 10.
safe kseping 1t being the decided intention
OF this article, tna1 TIC engagements OF the
Bank for the paynlsnt OF money, shall ia no
instance ~ hatever exceed is actual and ef
flcieu means OF payment.
article is. All bills, bonds, notes and
every consracs or engagement on behalf of
the Company for the payment of money,
shall be signed by The President and coun-
terslgned by the Cashier, aad the funds of
the Company shall in no case be liable for
any contract or engag unless the same
shall be signed and countersigned as ators-
said.
Ayticle Il. The Shares of the Capital
Stock shall be transferable at any time, &C
coyding to such rules as may be established
by the President and Directors. But no
Stock shall be transferred, the holder there
ofbsing inde bted to the Bank, until such
debt be satisfied, except the President and
Directors shall otherwise order 1t.
Article 10. Every Stoekholder, whether
he be 50 by original subscription or by trans
trr shall be considered as member OF .his
association, and when he ceases to be a
Stock holder he shall cease to be member.
Art;cle 10. 1t shall be the duty OF the