The enquirer. [volume] (Richmond, Va.) 1804-1815, 1811-09-17
CBY AUEHORITY)
EAW OF THE UNITED STATES.
AN ACT

Ca an Cosyress assembled. That from and sfter
the fourth day of March, which will be in the
year OF our Lord. one thousand eight hundred
and eleven, all those persons, their iegalrepre
oen;atives or ass gns, who on the FIRST Monday
OF November, in the year of our Lord, one thou.
sand eigh, hundred and nine, in GEORGETOWN,
district OF Columbia, subscribed certain articles
OF association, and formed n company or limited
Partnership. under the name and style Of the
I" President aad Directors of Uuion Bank of
Georgetown" and who on the said fourth dsy
OF March, in the year eighteen huharcd and e.
lesen shall mold any share ofthe joint stock or
tunds creaed in pursuance of the said articles
oil association, and their successors, being stock
holders, as aforesaid, slsl be snd they are here
by incorporated, and made body corporate K
polite, by the name and style Of the "Presi-
d n, md Directors of the Union Bank If Georgs
% 'sn,' and bythat name may sue ms be sued,
lm1scnd and be .snplesded, ans yer and be an
swered, defend and be defended. in courts of
recoed and any other place whatsoever and by
chat name may have and hold, purchase, receive,
pussess enjoy and retain lands, reets. tenements,
Entertainments. goods. chattels and ettcts OF
what nature, kind quality soever. and the
game sell. grant, demise, alien and dispose OF.
And by that name, shall have during the cont,n-
oance OF this act, succession and may make,
have and use common seal, and the same msy
bteak, alter and renew at pleasure and shall
have power TO ords,n, establish and pat N exc
cution, such bye-laws, ordinances and resulst-
ems they snail seem necessary & convenient Tor
The government Of said corporation, not being
contrary TO law nor TO the constitute ION thereof;
and generally to do and execute all acts neces
sary or proper for the objects of said incorpo-
ration subject to the rules, regulations, restric-
rions, limitations aud provisions herein describ-
ed and declared.
SEC. Q And be it a-ther enacted, That the
capital stock of the sahi bark shall consist of
five hundred thousand dollars, money of the
u S. to be divided ir.to shares of fifty dollars
each of which fifteen dollars On each share
Mas been paid, according The articles Of associ-
alton aforesaid and it shall be optional with
ny stockhoder hereafter TO pay up the further
sum of thirty'fve dollars; Po0ided, That not
more than fifty thousand dollars De paid in any
one year, unless the President and Directors
by rule or order should authorize or permit
greater sumto be paid, the dividend or dividends
on such sums of money so paid, shall not com.
mence until the first day OF the month next en-
auing such Payment
SEC. 3. Ind be it further enacted, That the
sad b&uk shall transact its business in George
town
SEC a And be it further enacted, That the
affaFs )ftge said bank shall be conducted by
eweiye directors and president, whose place,
if chosen from among their number, shall be
supplied by that body. Six of the directors,
wiz, he president sh all form board or quo
rum for trsnsacting all the business ofthe com
tsany, but the ordinary discounts may be done
by the president and three directors In case
OF his sickness necessary absence, his uace
may be supplied by any director, whom he, by
wrting under his hand, may nominate, for that
purpose, or in case Of his not making such NOM
instion, the board may appoint President to
act during his absence. The president and di,
rectors, who may be in Office under the said ar
ticies of ASSOCIATION on the SAID fourth dsy of
March, eighteen hundred and eleven, shall con-
unue in office under and by virtue of this ACT If
tncOrporat.on, until Others shall be duly chosen
I'm tbe,r stead. No person snail be dir ectnr OF
president, who is not citizen of the u. States,
and stakeholder and director ceasng 10 be
q stoc khoider, shall Cease TO be director ans:
no person a dirSc tor of another bank shall BE-.
director of this bank Every stakeholder be.
ing citizen of the u - shall be entitled to vote
at Ill elections to be holden by the stockholders
an pursuance of this act, and shall have as m.ny
votes, in proportion to the stock he may hold,
as fellows For every share, as far as twenty,
one vote for each share and one vote for ev.
erg two shares thereafter, as far as forty; and
for every five shares above forty, one vote but
no person or persons, bodies corporate or O.
sherwise, shall be entitled to more than one hun
dred aud fifty votes no stakeholder shall be
permitted to vote, who has not held his slock
swo calendar months, prior to the day of electi
on. All stockholders living in Georgeto wn,
Ghall vote in The choice of directors by ballot IN
Person but every stakeholder living out of SAID
town may vote III person 0r by written ballot
by him or her subscribed with his or her name.
and duly acknowledged before Judge of
couri, justice OF the peace, or a notary public
q certificate whereof shall be made on said bal.
lot by the judge, justice Oft peace, or notary
publit, before whom such sCkno Wledeement
shall De msue aud SAID ballot shall by INN be
sealed up, and addressed to the cashier of the
bank, and being transmitted before the time of
the lection, Shall oe received and counted IN
the election. No person who is not citizen of
the u. = shall entitled to vote IN any electi N
OF tfts corporation Provided neusrtheiess, That
or amended ny Congress, in such a manner as
they may see TIT, 81 as to provide for an apnual
rotation of the directors
SIG. S. Aadbe a. further enacted, That gen.
ersl meeting of ne stockholders of the said
Bank shall DC holden on the first Monday of A.
pg6, III the year eighteen hundred and eleven.
and OH the fist Mondsy OF Apri in every year
thereafter, at such place a. the president aud d.
rectors snail Ipoiht, by giving four weeks no
tiCe IN two or more of the ne wspspers ofthe dis
trict, for the purpose of electng directors Tor
The ensuing year, who shall meet on the dsv
succCed lng their election, and shall immediate.
iy proceed 10 choose President; and the pre-
sident and directors for tie TIM being, shall
continue III otiice until others shall he duIy O.
lected III tieT places, and be organic ed by the
ASCENDING ut quorum, and the choice of
president At ali elections the persons having
the greatest numDer of votes shall be deeemed
10 be CHOSEN. All elections shall be held under
The superintendent OF the president of the