The Delaware gazette., 1810-03-24
The articles of Association,
OF THE
BankofWilmington yBrandywinc

oFTHE
Bank ofWilmington S5BrandyWlne.
TO all whom these presents shall come, or
to whom they in any wise concern, BE II made
known and made manifest, That We, thesub-
scrbers, have formed a Company or limited
Partnership, and do hereby associate and agree
with each other to conduct business under the
name and title OF " The PRESIDENT and
DIRECTORS of the BANK of WHINING
TON and BRANDYWINE."
And We do hereby mutually covenant, de-
clare end agree, That the following are and
sociation and agreement with each other, by
which we, and all persons who at any time may
transact business with the said company Shall
be bound and concluded.
ARTICLE /.
Ths capital stock Of the said company shall
consist Of Two Hundred Thousand DoNars, in
money Of the United States, and shall be dlyl-
tled in shares Of Fifty Dollars each the amount
OF the shares subscribed for shall he paid by
the several respective subscribers into the
hands Of the Directors, herein alter named. IN
gold or silver, or in Bank .3otes equivalent
thereto, in the following HIsn.ier, to wit:
Esue Dollars shall be paid Oh each share at the
time of subscribing these articles, and Flpt
Dollars shall be pad Oh each share on every
succeeding thirty days, until the payment oi
Twenty-Five dollars, on each share so subscrl-
h.d is completed and in case Of noa-paymen'
of The said sums OF money at the time or times
spec fled, when they become payable, the share
or shares subscribed for, and upon which such
default of payment arises, shall be forfeited tc
the company, together with all and every sum
or sums OF money previously paid thereon and
the remaining Twenty Five Dollars, on each
and every share SO subscribed, shall be called
for and demanded at such time and place and
in such proportions as the Directors herein at.
ger mentioned, shall order and direct they
giving at least thirty days previous notice o
<uch payment, ~ The most public manHlr,ha'
circumstances and the nature OF tbs case viii
admit. And in case OF nom payment Of thc
residue, or any part thereof, ut the time o!
fines SO required, the interest or dividends oil
all monies previously paid on such shares hal
be forfeited to the Company.
ARTICLE II.
That the following persons are hereby con
stituted and appointed Directors OF said Bank
and shall continue to hold their respective Of
fees until the first Monday of April, one thous
and, eight hundred and eleven, and until they
or their successors shall be duly elected, az
herein after provided.
ARTICLE III.
Should any vacancy at any time happen d
mong the Directors, by death, resignation o.
otherwise, the remaining Directors, for th'
time being, shall elect Director TO fill suci
vacancy until the next election and on tb
said first Monday in April, l8 |, and on every
succeeding year, central meeting OF th
Stockholders of the SAID Bank shall be holder
at such place as the Board of Directors shal
appoint, by notice given in the most publ
manner the nature of the case will admit, a
Least fifteen days next antecedent to1such meet
ing, for the purpose OF electing nine Director
for the ensuing year and the said Directors
shus elected, shall, at their first meeting afte
such election in each year, choose one of thei
lumber as President Provided, that in case
should happen at any time that an election c
Directors should not be made upon any da
when, .pursuan, to these articles, it ought t
have been made, it shall be lawful, and the Di
scctors for the time being are hereby required
within ten days after such ncglec. TO call
meeting of the stockholders, for the purpose c
holding and making an election of Directors, il
such manner as majority of them shal direc
and appoint.
ARTICLE w.
.Nohe oNt SiOCkho'der, Oelnn Cusen d
and residing in the State of Delaware, shall
eligible as "a Directors; and no Director OF all
ether Bank, or partner Of such Director, sha
De, a, the same time, Director Of this Bank
aad il any one OF the Directors, after being c
't'ted, shalt, at amy time, during the term ic
"hch lie shall have been chosen, cease to b
oIockholer, or be elected or chosen Direc
oF Oh IN any other Bank, the remaining DireC
'Fs or majority Of them shall latter hayin
'"'is'ac'"ry Inlurn.s;icn Of the same) at thei
~ u 'nsetlng. pass an order .ciaring him thu
l'9ra''he''. and nc longer a Director Of tn
- Ha'" and s.ali forthwith proceed to Fl