Alexandria daily gazette, commercial & political. [volume] (Alexandria [Va.]) 1808-1812, 1811-05-18

,,,ant unless the same shall be signed and
countersigned in the manner before nienaosi-
ed.
find se it further enacted, That the books,
funds s papers of the said society, Shall be snb-
leot to the inspection and examination OF the
said societv at general meeting, Oh oi any
committee appointed from time TO time ~
general ,neetlng.
find be ii fu."her enacted, That the shares
owned by the stockholders shall be transferred
on the books OF the society Only, according TO
such rules as may be established ID that re-
spect by the managers; but 10 stock shaii De
transferred by any stakeholder, who snail at
the time be indebted &c the said socle,y, until
such debt shall first be PAID and any person
who shall accept a transfer CT any stock' Snail
;,so r,c.o become member OF the SAID soCle-
~. and the share or shares OF any stockhoider
mr. Stockholders indebted to tne society. shall
always he considered As liable for such debt
o- debts. and may be sold By the managers tor
tbe nayment thereof, under such regulations
as they may from time to time ordaih and es-
ts,Oiish.
Ind be it further enacted, That the capital
stock md funds OF the said society shall alone
be responsible for it's debts and engagements,
and no person WHO shall or iaay deal with the
society, OF 10 whom they shall IN any MAILER
become indebted, Shall. Oh ally prctence what
socyer, have recourse to the private property
Of the managers or stockholders of the sad
society, OF against their persons; but ali per-
sons accepting any bond, bill, note or ether
obligation OF tie sid society, signed bv the
president, or dealing with 1t in any manner,
sn..i be considered as giving credit On the
Joint stoc, ana capital orly asld ali contracts,
bonds, bills, no.es and Covensi.ts OF any demo-
animation, IN; de on behalf OF the society, and
signed by the president, si,ail clearly declare,
that the capital SOCK and funds OF the society
only, shall be Liable for the Payment thereof /;
and it is expressly declared ana understood,
ma, 20 contract OF the society which shsii not
clearly express the Liability of the property ard
funds of the society Only, for the payment
thereof, snail be obligatory.
.dnd be ii further enacted, That dividend
shall be made, at the expiration OF each year,
of so much oftne profits OF the said socicty's
Capital stock as shall be deemed eXpedlent,
and the Same shall be determined by MAORI
ty of the board of managers at meeting to
be held for that purpose, which dividend Shall
In no case exceed the amount OF the nett pro-
its actually acquired by the said society, III Or
der that the capital stock may never be dl-
unfinished.
Ind be it fwther enacted, That the presi-
dent, managers and clerks or officers, which
may be employed by the SAID society, SMALL
before they enter on the duties OF their res
pcetive offices, t.ke All oath, tor the due and
faithful performance thereof. The president
shall be the principal agent, under the ehiec-
ton of the managers, Tor Carrying on the bu-
sness of the society, and Shall, ior his services,
be entitled to such compensation as Shall be
allowed by the managers.
Ind be IL Jur,her enacted, That the trea-
surer Shall keep the books OF the said society,
which shall contain a just and tar account OF
the receipts and expenditures, and all other
transactions relating to SAID society, ami Snail
do and perform all the business appertaln!ng
to that Office He shall, before he enters upon
tne duties of that Office, enter INTO bond with
sufficient security iii such sum as Shall be fix
cd on by the board of managers, conditioned
for the faithful discharge of the duties Of his
office, which bond may at any time be put III
suit by the president and managers OF Said So
ciety, for any malftasance OF nisfeasalice In
odice, or for any n!isapPlicaton or non-pay-
mcnt of any sum or sums OF money, which
he may at any time receive for, or on account
of said society, and shall either refuse or neg
lect to pay away, in such manner as the board
OF managers may from time to time prescribe
and order.
.And 4vhereas, the said society may hereaf-
ter find it expedcnt to enlarge their plans of
operation, and extend its views, so that an In
crease of It's capital may become necessary
Be it therefore enacted, That the SAID socle-
tv shall have power and authority by subscrip-
ton to increase its capital stock to an amount
not exceeding the sum of Twenty Thousand
Dollars, whenever majority Of stockholders.
who shall be the owners of at least one half of
the original capital stock, shall deem it advisa-
bic and expedient to do so and, before any
subscription shall be opened for the purpose
of increasing the said capital stock, the presi-
dent and managers shall convene the stock
holders for the time being, for the purpose of
their opinions upon the subject;
and f majority Of them, who shall be the
owners Of one half the capital stock at least,
shall deem it expedient to increase their capi-
~, RI, -, n,a barehy fecIared IN hove