The Delaware gazette., 1810-04-07
The articles Of Association,
OF THE
ankofWilmington SBrandywine



TO all whom these presents shall come, OF
to whom they in any wise concern, BE 1t made
known and made manifest, That We, thesab-
scrbers, have formed Company or limited
Partnership, and do hereby associate AMI 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
sha,, 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.
ARTlCLEl !.
The cap;,al stocf of the said company shall
consist of Y7vo Hundred Thousand Dollars, in
money of the United States, and shall be divl-
ded in shares Of Fiftv Dollars 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, i'll
gold or silver, or in Bank notes equivaiehl
thereto, in the following manner, to wit:
Fire DoNors shall be paid on each share al the
fine of subscribing these articles, and rae
D9Yg3a shall he pad on each share on every
succecdne thirty days, until the payment OF
Twenty-iiye dollars, on each share so suhsell-
Bed is completed and in case OF nun-pay ymen'
of the said sums Of money at tho time or tunes
snec:hed, when they become payable, the share
or shares subscribed Tor, and upon winch such
defau,t Of navment arises, shall be forfeited Ia
,he comDany. torether with all and every sun,
or sums of money previously paid thereon a''d
the remaining Twenty five Dollars, Ole each
al. shall be cult,
E5r and demanded at such time and place and
IN such proportions as the Directors herein al
Ser mentioned, shall order auti direct they
giving at least thirty days previous notice o.
such payment, in the most puolic manhertha'
circumstances and the nature OF the case vii
admit. And in case Of non- payment Of the
residue, or any part thereof, at tie time ol
times SO required, the interest or dividends on
all monies previously paid en- such shares sAa
be forfeited to the Company.
ARTICLE II.
That the following persons are hereby con
sttuted and appointed Directors OF sad 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, y:
herein alter provided.
ARTICLE III.
Should any vacancy at any time happen a
Inong the Directors, by death, resgnalon o.
otherwise, the remaining Directors, for th'
time being, shall elect IA Director to I'LL suci
vacancy until the next election (; ard on tb
said first Monday in April, l8l !, and on ever
succeeding year, general meeting oi III
Stockholders Of the SAID Bank shall be ho!dci
at such place as the Board Of Directors sha!
nnt ot, IN he
manner the nature Of the case will admit, a
least fifteen days next antecedent to such meet
ing, for the purpose Of electin!, nine Director
for The ensuing year and the said Directors
thus elected, SHALL at their first meeting afle
such election in each year, choose one of ,hei
number as President Provided, that in case
should happen at any time that an electisn @
Directors should not be made upon any ta
when, pursuant to these articles, it ought t
have been made, it shall be lawful, and the Di
rectors for the time being are hereby required
within ten days a(.cr such neglect 10 call
meeting of the Stockholders, Tor the purpose q
holding and making an election of Directors, il
such manner as ina jorily Of them shA tirec
and appoint.
ARTICLE ~.
None but S'ock holder, being citizen Of
and residing il the State Of Delaware, shall b
eligible as Il Dilet tor; and no Director ol an
Other Bank, or partner Of such Director, sha
be. a the same n,ne. q Director OF this Bank
and il any one nj The Directors, alter being {
leeted, shall. a, any limc, during the term ia
Thich be shall have been chosen. cease to b
stock holder, o. be e~c, ID or chosen Direct
Or on in any other Bank. the remaining Direct
ors, or maj ao7iiy Of them Shall taiier hcvin
satisfactory information of the samel at thei
next meeting. pass an order declaring him thu
disqualified, and no longer Director of tn
sad Bank: and sI;s!! ti,stl.Nith proceed TO Il