Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1810-10-19

a citizen of the United States, and bona
6de 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 eec-'
ton be qualified under this and the tore
going article, he shall be allowed thirty
DAYS 70 qualify himself, and during the
term oil his disqualification he shall rot ex-
ercise or perform any of the duties apPer-
tanning to his appointment, but 1t ne. does
not within this period qualify himself as a.
foresaid, his appointment shall be deemed
void, and the Board of President and d.
rectors may proceed 10 fill the vacancy.
Artich TO- The President and Directors
shall as soon as they may deem 1t ezpedt-
eut, declare dividend of profits, and evsry
half year thereafter, shall make and declare
such dividends of profit as they may deem
proper-but no dividend shall be declared
except by majority of all the Directors.
article II. A majority Of the whole num-
Der of Directors shall be necessary In the
choice of the President and Cashier, bat
three members with the President may
constitute Board for transacting the oFdl'
nary business of the Bank.
article -. The President and Directors
shall keep 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
upon shall be noted, which record book
shall at alllimes be open tothe inspection OF
any Stakeholder, not being director, OH
Ger or servant Of any other Bank, who shall
six nunths previous 10 his application be
tse proprietor Of stock to the amount OK
three thousand dollars.
Ayt;cE Is. Any number Of Stockholders,
not exceeding twenty, owning together,
stock 10 the amount o! fifty thousand dol.
las, tor the space Of six months, shall. DC at
liberty to call a meeting at any time OF the
Stockholders, & May appoiat three OF their
number as committee TO examine into the
state & condition of the bank, & the manner
il, which It's affairs have been conducted
PfaviQed that no MS rabqr Il such committee
si.al be a director, president or ether officer
or servant O! any other Bank.
Article Il his President and Cashier
shall respectively give bond and security,
and also take Al oath for the faithful dis
charge Of their dutes--the President in the
sum If tHenty thousand dollars, and the
Cashier in the SUM OF ,thilty thousand do.
lars ! the o,he: officers and servants sha!!
also take an oa,h and enter into bond s. St
cuy,ty, in such suas as the President and
Directors may pfescf'oe.
Irt:cle IS. Ihe total amount OF Bank
Notes ard all otaer engagements Of he
Bank .orthe payment q money, sha!kne
yer exceed ne aaoant OF -.ank Capital, and
the afaoun! of n.O1Ies deposited n5ank iog
safe keeping: Il be.ug he decided intention
Of this i.l:ille, ttfat the engagement O! the
Bank iot the payment of money, shall in DC
instance W hatever exceed us actual and et
icien. means OF paymert.
ArticLe IS. All bills, bonds, notes and
every conwacj or engagement on Behalf Of
the Company for the payment OF money,
.ha!. be sl8Gcd by the EIesldent and coun-
terslgncd-ny the Cashier, and the funds 0!
The Company snail IN no case be liable for
aay Contract or engagemcr.t, unless the SAME
s.1a.. be signed and countersIgaed as sture-
SAID.
lifticle II. The Shares Of the Capital
Stock shall be transferable at any time, &C
cordln5 to such rules as may be established
b, the President ard Directors. But no
Stock sh.4l be transferred, the holder there
ogbelng indebted to. the Bank, until such
debt be saushed, except the President and
Directors shall othetwise order it.
AfacLe Is. Every oeoekholder, whether
he b 50 by original subscription or BY trans
fer, shall be considered as 4 member OF :hls
association, and when he ceases to be a
Stockholder he shall Cease to be member.
Artic4e 10. Ii snail be the duty OF the
DE- s.1i..rt On whose ahsence liz. llir..ctnrs