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

ccommoda,ion shah be granted, except, at
the discretion Of the President and Direct
ors. to Stockholders, and not TO a Stock
holder to an amount exceeding the amount
Of his stock actually paic up.
article 20. If any Stakeholder shall fail
to pay up the several instalments upon his
subscription as herein before directed, his
interest upon such instalments as he may
have paid shall cease, as to him, and remain
10 the use and benefit of the other IN ,nbers
of this association.
Article %. If the Directors of this As
sncia,ion shall at any time wilfu!ly and
knowingly make and declare any dividend
which Shall impair the capital stock, or
shall wilfully and knowingly violate and in
fringe any Of the foregoing fundamental ar
:icles of this Association, all the Directors
present at the making or declaring such di-
yidend, or violating or infracsng such fun>
darnental article or articles, and conserving
thereto, shall be liable in their individual
capacities to the Company for the amour.
or proportion of said capital stock so di-
vided, and also for any injury or damage
tia, may accrue in consequence of amy such
violation or ipfraction as aforesaid /; and
each Director who shall be present shall be
deemed 70 have asssnted thereto unless he
cause his dissent to be entered on record.
article "a. 1t is hereby expressly and ex-
plicitly declared to be the object and nten-
ton OF the persons who associate underline
st;le or firm of the President and Directors
of the Farmers Bank Of Alexandria, that
the Joint stock or property OF the said com
pany, Exclusive OF The dividends to be
made in the manner herein after mentioned)
shall alone be responsible for the debts and
engagements OF the SAID company. And
that no person who shalt or may deal with
this company, or TO whom they Shall or
may become in any wise indebted, shall, on
any pretence whatever, have recourse a.
sainst thr separate property OF any present
or future member OF this company, or a.
eainst their persons, further than may be
necessary to secure the faithful application
of the funds thereof to the purposes 10
which. by these presents, they are liable:
But all persons accepting any bond, hill or
note. or other contract OF this company,
signed by the President, and countersigned
or aussted by the Cashier of the company,
for the time being, or dealing with it IN
arv other manner whatsoever, thereby re.
spcc,iv,ly give credit TO the said joint stock
or Droper,y Of the said company, and there
by respectively disavow having recourse,
on any pretence whatever, to The person or
separate property of any present or future
member of this company, except as above
mentioned. And al! suits to be brought
against this company (1F any shall be- shall
be brought against the President tor the
time being, and in case of his death or re-
moval from Office, pending any such suit
against him, measures shall be taken, at the
eSpence of the company, for substituting
his successor in Office, as defendant SO
tina, persons having demands upon the COM
pany may not be prejudiced or delayed by
that event: Or, if the person suing, shall
go on against the person first named as de-
fendan! Notwithstanding his death or re-
moval from office this company shall take
no advantage, by writ of error or other
wise, of such proceeding on that account;
and all recoveries, had in manner aforesaid,
shall be conclusive upon the company, SO
far as 20 render the company's said Joint
stock or property liable thereby, and no
further; and the company shall immediate
ly pay the amount OF such recovery out Of
their Joint stock, but not otherwise. And
IN case OF any suit at law, the president
shall sign his appearance upon the writ, or
file common bai! thereto; it being expressly
understood and declared that all persons
dealing with the said company, agree TO
thes: terms, and are to be bound thereby.
,4r;icie IS. These articles of agreement
s,.aii be published at least twenty days in the