The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-09-17
take for Liscounsing any bill or note, more than

take for discounfing any bill or note, more than
at the : ,e ofsxpe cent, per snnum, upon the
amount due ~ such bill or note
SEC. z. Ara be ittuythtr enacted, That all pro-
m'ssory notes, bills ofexchsngr, drafts. checks,
and receipts, for the payment Of money made
on behalf Ut the Bank, signed by the president
and coun.ersigsed and attestel by the CASHIER.
shall be obligatory upon the said body corporate,
and shall possess the like qualities to nego;-
ability. and the holders thereof shall have the
like actions thereupon, as if such pronssory
notes, bills OF exchange, drafts, checks or re-
osipts had been made by or on behalf ot natu-
| rsl person
SEC. q. And be if further enacted, That the
books, papers, correspondence aud funds of the
Bank, shall At any tines be subject to the in
spec,ion oil the directors. And the said presi.
dent and directors shall once in evtry year
cause, to be laid before the Secretary of the
Treasury of the United States, an account,
truly stating the situation of the Bank and It's
funds
SEC. 9 Aed be IL {uytheY enacted, That the
said president and directors, shall have power
to appoints cashier, and all other officers and
servants, sor executing the business of said bank,
and to establish the compensation TO be made
to the president and all other officers and SER
wants OF the sane, respectively; but no compen-
sation shall be given 10 director for his scryi-
ces, except by vote OF the stockholders in gen.
erst meeting.
president and directors, shall have power to
call general neetsg of the stockholders. for
purposes concerning the interest Of the Bank,
giving at least SIX weeks notice, in one or
m re of the newspapers of the district, speci-
Tying in such notice the object or objects of such
meeting,
SEC. II Ind 5e it Jartkey enacted, That the
shares IT the capital stock, at any tim owned
by any individual stakeholder, shall be trans
ferrable only on the books OF the Bank, accord
ing to such rules, may. conformsbly TO Ia w.
se established in that behalf, by the president
and dire tors ; bur all debts actually due, and
payable to the bank days of grace for paymen,
beng PasD by q stakeholder, requesting a trans
fer, must be satisfied, before such transfer saall
oe made unless the president and directors shall
direct TO the contrary.
| SEC 10 Ind be {. turtle, enacted, That the
div'dsnas OF the profits OF the company, or SO
much of said profits as shall be deemed expedi.
lent, sbsll be declared half yearly, in The
! first week in April sod October, in each wear
the mount ofssid dividend shsll from time to
| time be determined by the president and di-
rectors, and shasl in no case exceed the amount
OF the net profits actually acquired by the com
psny, go that the capstal stock of the said
4 company shall never be impaired by dividends
SEC IL and be it further eneeted Thst If
the SAID directors saailat any TIM, ..iifully &
knowlnsb max or declare any dy d. nd which
shall Impair the sid capital stock, III present
al the making or declaring Of said dividend, &
consenting thereto, shall be liahie in their ind
vidpal capacities to the company, for the a
noun, or proportion of said capital SO divided
.. the said directors; and each director who
shal represent a, the making OF declaring OF
| such dividends shall be deemed to have consen-
!eo thereto, unless sc Shall immediately enter
In writing, his dissent on the minutes of the
proceeding of the board, and give notice there
OF to the Secretary of the Treasury of tbs u.
States.
| SEC IA. And be IL further enacted, That the
Bank snail In no Case, be owners OF any ships Or
vessels, OF directly or indirectly, be concerned
IN trade, or the importation or e1por, alton mir
| chase or sale OF any goods, wares, OF merchan.
die whatever, except bills of exchange, bulli-
on, stock of the United States OF of incoruora
ted institutions, and such ships, VESSELS, goods,
wares or merch sndize, as shall be truly pled-
ged TO them by say of security tor debts due.
owing or growing due TO the SAID Bank. or
purchased ny u. to secure such debts
SEC Is Aud be it further enacted, That the
| Bank shall not pu'cnsse orhold any lands, ene
| ments, or other real estates, other than what
| may De necessary for the convenient transaction
OF ITS business, unless SUCH lNiids, tenements &
real estates, snail have been BONA fde mortea-
| ged to the Bank by way of security, or convey
ed TO IL IN satisfaction of debts previously con-
traeted IN the course of dealings, or purchased
to secure debts contracted WAN or due To the
Banks and in every instsnoein which the b INK
may become owners or claim ants of lands, ,r-
nements or real estates, the president and dr.
rectors are empowered TO sell or dispose of The
same, in such manner as they NAV deem bene
ficial for the said bank.
SEC. 6. And Be it further enacted, That If
any vacancy shall at aoy tine happen among
the directors. by death, resignation, ORC.
| therwise, the rest of the directors for the
time being, shall elect director to fill the va.
canCy
SEC. II. And be it further enacted, That ifanv
| number OF stockholders, not less than twenty.
VINO shall be proprietors OF not less than forr
Thousand shares, may tor any purpose relative
to the institution, at any time apply TO the pre-
sident and directors, to call general meeting
OF the stockholders, and if by them refused the
said number OF stockholders, proprietors of no,
less than the number of shares sfore said shall
have power to call general meeting of the
stockholders, giving at least sixty days notice
| IN two or more public newspapers in the dis.
trict, specifying in such notice the object or
| objects of such call.
| SEC Is. dnd Be it Further enacted. That the
said bank shall mol at any ttne d,s sonnt or loan
greater sum than double the amount o1
the Capital stock, which shall be actually paid
IN.
SEC 10. Ard {: it further enacted. That the
total amount OF the debts which the said corpo
ration snail 1T any time owe, whether by bond
! bill, note, or other contract, shall not exceed
twice the amount OF their capital stock ACTUALLY
paid IN, over and above the monies then actu,liI,
deposited IN the bank for safe keeping. In CAGE
| OF excess, The directors, under whose sdminis