Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1811-04-22
y ST ais shsse and STOCK in the said

\
Bank.
SEC. 9. Aud be it further enacted,
Thatthc said bank shall not az any time
discount or loan a greater sum than
douoie the amount OF the capital stock,
which shall De actually paid IN.
Sc. 40 And be it further enac,ed,
That no stockholder or member OF the
said company shall be answerable
for any losses, dc 6ciencies or failure Of
the capital stock OF said bank, for any
more or l.reer sum or sums of money
whatsoever, than the amount of tie
sock, stocks or shares, which shall
appear by he books of the said compa-
nv 10 belong to hira at the time o.,
times when such loss or losses shall be
susteined, except rs is hereafter except
ed, hat is to say ii the total amount
OF debts, which the said company shall
at any time owe, whether by bond,
note, bill or other contract, shall ex-
coed twice the amount OF capital stock
OF the said bank, over AID above the
monies actually deposited in the bank
for sate-keeping, then in case Of such
Excess, the directors, under whose adj
ninis,ration it shal! happen, shall
he liable for such excess, in their
natural and priv tie capacities and
an action or actions OF debt may be
brought against them, or anY of teen,
cir heirs, executors or administra-
tors, in any count Of RICO d within the
District OF Colombia, BY any creditor
or creditors Of said company, & NAV
be prosecute 10 Judgment and exc
cution, any condition, covenant or a.
eFeennent to the contrary notwithstan..
ding bat this shall net be construed
TO exempt TIE said body polite, or the
lands, tenements, g DDS OF cha tells OF
The same, from beng also liable for, &
chsrGeablc with the said excess: Pro
vrded, That such oil the said directors
who NAV have been absent when said
excess was contracted, or created, or
w7o may hsvs dissented from the re-
s'iution, or act, whereby the same was
SO contracted or created, NAV re pee
tively exonerate the selves from be-
ing So liable, by forthwith giving no.
tee OF the feet, and of their absence or
dissent, to the MAYOR Of the town Of
Alexandria, for the time being, and
10. the stockholders az a fenera, meet
Ing, which he or thev shall have power
y cali Tor that purpose. Aud in case
the dire, tors, BY who's act such excess
.hal be occas:oned, shall not have pro-
party suficirptto pay the amount of
81, txcess, then each and ey cry ock-
holder ahall be liable in their private
capacities Tor the deficiency, in pro
portion 10 their respective shares in
SAID bank.
Sec. II. And be il further enacted,
that the said president and directors
shall not ISSUE any note for smaller
sum than Eve dollars and the said
president and directors SIN II, once 10
every year, canSe To b. lsid before Il
SEC" tary of the Trca3ury Of the Uai
led States an account, truly stating
the situation of the bank, and its
funds.
Sec. IL. And be it further en3cted,
That no direC;or shall be en- itled to
a. Nhi iiuu.CUi, HfiicSS me same snail I
have been allowed by m iority Of
the stockholders, It general nee ing,
but the directors all make such com.
Pensation to the pres dent, for his ex-
traotdinary services i ATTENDANCE at
the benk, as sail app ar to them rea-
sonabis.
Sec. 10. And be il further enacted
,Tba' none but stock holder, b. ing
citizen OF the United Sa es, and
resident of the county of Alrxandria.
or county of Fairfax aforesaid, shall
be eligible as a president or direc-
tor.
Sec. Ia. And be it further enacted,
That number of stockholders. no,
less than tveny, who 10. ether ehan
be prop ietors OF one thonsand shares.
O upwards shall have power at any
time to cal general net mp Of the
stockholders, -iYr purposes relative TO
the Institution, Civ ne a leas, elk - ecks
notice IN one or mose newspapers.
pii ted IN the town of a xsn3r f, nd
specifying in such notice he O, lect or
object a. such meeting.
Sec. Is. And I've { further Enacted.
a