Virginia Argus. [volume] (Richmond, Va.) 1796-1816, 1811-03-25
[12 IL Gents .siagle.l

pany, or so much ct said profits as
shall he deemed expeclient and pro-
I ms, shall be declsred hale yearlv, In
the hrss week in April aud October,
N each year; the amount OF said
dividend shalt, from time 20 time, be
determined by the president ard di.
rcctors, aud shall in no case exceed
the amou6t of the net profits actu ~
acquired BY the company, so tha, tne
capital stock OF the said company
shall never be im2aircd by dividends,
sec. IS. And be 1. fa,h.r enacted, Tnat
Iif the said directors shall at any time, !
wiliully and knowingly make or de-
clare any dividend which shall i'm
pair the said capitll stock, al the pre-
srnt at the making or declaring Of SAID
dividend, and conserving thereto.
! shall be liable in their individual ca
lpacities TO the company, fcr the a.
mount or proportion of sad capital
SO divided by the said directors AID
each director who shall tie present se
the making or declaring Of such o.
vidend, shall be deemed, 10 have
consented thereto, unless he shall
Immediately enter In wrisiug, his Dis
sent on the minutes OF the procee-
dings of the board, and give notice
thereof TO the Secretary OF the Trea-
surv of the United States.
Sc Il And b. j, fusthes enacted THAT
the Bank shall in no case, b. owners
of any ships or vessels, or directly
Or Indirectly, be concerned In trade.
or the importation or expectation,
purchase or sale of any goods, wares
or merchandise whatev-r, except bills
OF exchange. bullion, sock Of me u
nfted States, or of incorp5r ted inssi-
buttons, and such ships, yes els, goods,
wares or merchand.ze, IS shall be
truly pledged 20 them bv way ef Sc.
cnrity for debts due, owing or erowi.g
due to the said Bank, or purchased by
1t TO secure such debts.
Sec. 15.>And be it further enacted. That
the Bank snail not purchase or hold a.
ny lands, tenemene, or other real ca.
la. IS, other Than what nay BE II cs.ssry
tor the convenient transact.oD Of iisbu-
sincss, unless such lands, tenem -nts
nd real es ates, shall have been bona
hde mortgaged to the Bank by wav of
security or conveyed 10 it in satislac-
lion of debts previously coatracted in
the course ofdealings, or purchased 10
secure debts contracted with or due 10
the Bank and 10 every instance ia
which the Bank may become owners
or claimants Of lands, tcnements or re-
al estate, he president and directors
are empowered to sell or dispose Of
the same, IN such manner Is they
may deem beneficial for the said
Bank.
Sec. 16. And cit fur.l,er enacted,
That if any vacancy shall at any tine
happen among The directors by death,
resignation, or otherwise, the rest Of
,hc directors for the time being, shall
elect q director 70 fiji the vacancy.
Sec. II. And beit forthe enacted, That
u ans number OF STOCKHOLDERS, not less
han twenty, who shall be- proprietors
OF NOT less than four rhous nd shares,
may for any purpose relative 20 the IN
stituuou, al any time apply to the pre-
sident and directors, to call a general
meeting of the stockholders, and if
by them refused, the said plumber Of
stockholders, proprietors of not less
than The number of shares aforesaid,
'shallhav power to call general meet
ing OF the stockhold RS, giving at least
sixty da notice in two or more ofthe
public new papers in the district spe-
cifyIng ~ such notice the object or oh
lects at such call.
Sec. 10. And be it further enacted, That
the said bank shall not at any time dis.
count or loan greater sum than dou.
bic the amount of tic capital stock,
which shall be actually paid in.
Sec. 10. And be it further enacted.
That the total amoHnt OF the debts
which the said corporation shall at any
time owe, whether by bond, bill, note
or other contract, shall not eSceed
twice the amount of their capital stock
actually paid IN, over and above the
monies then actuIly deposited 10 the
bank for sale keeping. L. case OF OK.
cess, the directors, uader whose adDi-
isira'icn it snail happen, shall be able
liable for the same IN their natural and
private capacities; and an action OF
dett, may IN such case be bfo pht a..