The Delaware gazette., 1810-03-31
The articles of Association,
OF THE
BankofWilmington SBrandywine
OF THE

to whom they m any wise concern, DC II inaue
known and made manifest, That We, thesub' |
scrbers, have formed Company or hmteo
Partnership, and do hereby associate and agree
with each other 10 conduct business under the
name and title OF q" The PRESIDENT and
DIRECTORS Of the BANK Of WHINING
TON and BRANDYWlNE"
And We do hereby mutually covenant, de-
clare and agree, That the following are AMI
shall be the fundamental articles of this onr AS
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 !.
The capital stock of the said company shall
consist Of Tvo Hundred Thousand Dllldrs, in
money oGthc United States, and shall be divl-
tled in shares of EifvDoYays each the amount
of the shares subscribed for shall be PAID by
the several respective subscribers into the
hands Of the Directors, herein after named, in
pold or silver, or in Bank notes equivalent
thereto, in the following manner, to wit;
Fire Dollars shall be paid on each share at the
lime of subscribing these articles, and Fi"c
Dollars shall he pald on each share on every
succeeding thirty Gays, until the payment OF
Twenty-Five dollars, on each share SO subscri-
bed is completed and in case oil non-payment
ef the said sums of money at the time CT times
spec fed, when they become payable, the share
or shares subscribed for, and upon which such
default of payment arises, Shall be forfeited to
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 al
ter mentioned, shall order and direct they
giving at least thirty days previous notice OF
such payment, in the most public mannerthat
circumstances and the nature of the case will
admit. And in case OF non-payment OF the
residue, any part thereof, at the time or
times SO required, the interest or dividends on
all monies previously paid on such shares shall
be forfeited to the Company.
ARTICLE II.
That the following persons are hereby con-
sltuted and appointed Directors OF said Bank,
and shall continue to hold tLcr respective Of
fees until the first Monday of April, one ,hous-
and, eight hundred and eleven, and until they,
or their Successors shall be duly elected, as
herein after provided
ARTICLE III.
Should any vacancy at any lime happen a.
lnong the Directors, by death, resignation or
otherwise, the remaining Directors, for the
time being, shall elect Director to fill such
vacancy until the next election and on the
said first Monday in April, lSl |, and on every
succeeding year, general meeting OF the
Stockholders of the SAID Bank shall be holden
at such place as the Board OF Directors shall
appoint, by notice given in the most public
manner the nature of the case will admit u,
least fHteen days next anlecedent TO such meet
ing, for the purpose of electing nine Directors
for the ensuing year ; and the said Directors
thus elected, shall, at their first meeting after
such election III each year, choose one OF thei,
number as President Provided, tina, in case il
should happen at amy time that an electiyn o
Directors should not be made upon any da,
when, pursuantto these articles, it ought t.
have been made, it Shall be lawful, and the D
rectors Tor the time being are hereby required
within ten days aficr such neglect 10 call
nesting of the stockholders, for the purpose o
holding aud making all election oil Directors, il
such manner as 4 majority oi tbcm shal direc
and appoint.
ARTICLE ".
None but Socth holder, brn. y citizen oi
a,-a r">id,r2 il The State Of Dviau are, shall b
eligible as Dire tor and no Director of an
other Bank, or partner of such Director, sha
br, Al the same tine, a Director Of this Bank
and If any one oi the Directors, after being c
tc'ted. sl,al., At any TIME, during the term fo
"alch hr s'lll have been chosen, cease to b
as'ockholdor, OF BE- elected or chosen Drcc
or OF ia any Other Bank, the remaining ID rec
ofs or a majority Of them Shall (after havin
satisfactory itiorlna,icn Of the samcl at the
next meeting. pass IN order declaring him th,
"'squa.icf, aid M longer Director Of III
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