Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1811-03-25

I iiouS as snail SEEM necessary and con-
veniens for the government of said
corporation not being contrary te law
nor to the constitution thereof; aiid
generally to do and execute all acts
necessary or proper for the objects of
said incorporation, subject to the rales,
regulations, restrictions, Limitations &
provisions herein described & declared.
/, Sec. 2. Aud be il further enacted, That
the capital stock of the said bank shall
! consist of 6ve hundred thousand dol
lars, money of the United States, TO he
divided into shares of fifty dollars each /;
OF which fifteen dollars on each share
has been paid, according to the arti-
cles OF association aforesaid and
| it shall be optional with any stockhol-
der hereafter to pay up the further sum
| OF thirty FIVE dollars Provided, That
not more than fifty thousand dollars
he paid in any one year, unless the
President and Directors by rule or
order should authorize or permit a
greater sum TO be paid: the dividend
or dividends on such sums of money
so paid, shall not commence until the
first dsy of the month next ensuing
such payment.
/ Sec. 5. And be it further enacted, That
! the said bank shall transact its business
lin Georgetown.
! Sec. 4. And be it further enacted, That
4 the affairs of the said bank shall be
conducted by twelve directors and a
president, whose place, if chosen from
among their number, shall be supplied
by thar BODY. Six of the directors,
with the president shall form board
or quorum for transacting all the bu-
siness OF the company, bur the ordina-
Try discounts may be done by the presi-
dent and three directors. Ia case Of
his sickness or necessary absence, his
place may be supplied by any director,
whom he, by wiring under his hand,
may nominate for that purpose, or in
case of his not making such nomina-
zion, the board may appoint Presi-
dent to act during his absence. The
president and directors who msv by
in Office under the said articles OF as
ISOLATION on the said fourth day OF
March, eighteen hundred and eleven,
| shall continue In Office under and by
Virtue of this act Of incorporation, un-
til others shall be duly chosen in their
stead. No person shall be director
or president, who is not citizen OF
the United States. and stakeholder :;
land a director ceasiug TO be,a stock
ilolder, shall cease to be director
land no person, director Of another
bank, shall be director of this bank.
! Every stockholder being a citizen Of
the United States, shall be entitled to
vote at all elections TO be holden by
the stockholders in pursuance of this
act, aud shall have as many votes. in.
proportion TO the stock he NAV hold.
ss follows: Tor every share, as far as
twenty, one vote for each share and
one vote tor every two shares thereaf-
ter, as TAR as forty and for every Eve
shares above forty, one vote but no
.lperson or persons bodies corporate or
IctheTwise, shall be entitled TO more
than one hundred and fifty voles.; no
stockholder shall be permitted 20 vote.
wiz 'iSo hOt hStO MS BLOCK TWO Calen-
der months, prior to the day Of electi
on. All stockholders liviogi in George
town, shall vote in the choice cfdireetors
| by ballot in person but every stockhol-
der living out of said town may vote
in person or by written ballot by him
or her subscribed with his or her ma .ne,
land duly acknowledged before Judge
of copTt, justice of the peace, or
notary public a certificate whereof
shall be made on SAID ballot by the
Judge, justice of the peace, or notary
public, before whom such ackuowl-
edgenent shall be made, and said bal
lot shall by him be sealed up, and adj
dressed TO the cashier of the bank.
and being transmitted before the time
OF the election, shall be received aud
counted in the election. No person
who is not a citizen Of the Uni
ted States shall be entided to vote
IN any election Of this corporation /:
Provided nevertheless, Thar this sec
! zion may at any time hereafter be al.
tered or amended by Congress, in
such manner as they may see fit, so
as to provide for an annual rotation
Of the directors.
Co. A. l.. l. s,,r.bc- e-....,.a ~. :.