Martinsburgh gazette. [volume] (Martinsburgh, Va. [W. Va.]) 1810-1825, 1811-02-22

NO person shall be eligible to the Office OF
director fer more than three out of any term
of four years Provided, That the presi.
dent of che Bank, aud the presidents of the
branch banks, shall be always re.eligible.
Sec. 8. And be it further enacted, That
In the election of directors, stockholders
being citizens of the United States, and &C.
tually resident therein may vote by ballot,
duly certified before a notary public or JUS.
tice of the peace, and lodged with the
cashier, of the said Bank, before any such
election and no person who is not a citi.
zen OF the United States, and actually resi-
dent therein, and tena fde possessor and
exclusive owner OF the shares standing in
bis, her or their name, of which an affidavit
shall be made at tae time of making such
ballot, or giving such vote, shall be permit
sed to vote at, or attend any of the meetings
of the said corporations; and no stockholdcr
shall vote by proxy.
Sec. 9. And be it further enacted, That
the President and Directors of the said cor.
poration shall be authorized and empower
ed to purchase, receive, possess and re.
tain to them and their successors, lands,
rents, tepemcnts, Entertainments, goods,
chattels and effects, of what kind, nature
or quality soever, not exceeding in the
whole, the mou of the capital stock &C
tually paid in, aud fifty per centum advance
thereon.
Sec. 10. And be it further enacted, That
the total amount Of the debts which the said
corporation shall at any time owe, whether
by bond, bill, note or other contract, shall
not exceed the amount of their capital stock
actually paid in, over and above the monies
| then deposited in the Bank for safe keep
. ing.
Sec. IL. And be il further enacted, That
the officer at the head oil the treasury depart
men. of the United States, shall be furnish
ed, as often as he may require, not exceed
ing once a week, with statements ct the a.
mount of the capital stock OF the said cor
poralion, aud OF the debts due to the same,
OF the monies deposited therein, of the
notes in circulation aud of the cash In hand
to be atte.ted before a justice OF the peace,
and signed By such of the directors as may
have been present at the last meeting of the
directors, prior to the transmission OF such
statements, and shall have a fright to inspect
such general accounts in the books as shall
relate co such statements Pyovided, hat
this right shal, not be construed to authorize
the inspection of the account OF any indivi-
dual or individuals with the Bank.
Scc.i2. And be it further enacted, That
the act, entitled s. An act to punish frauds
committed or the Bank of the u States"
passed the twenty fourth dav of February
one thousand eight hundred and seven, be,
and the same is hereby declared to be in
force, during the continuance of the said
corporation and shall here after apply to the
said corporation ia the same manner rs it
has heretofore been applied.
Sec. i3 And be 1t further enacted. That
it shall be the duty of the President and
Directors OF the spia Bank, within three
months after the passing OF this act, &C. sig
nify to the President o. the United States,
in writing. their acceptance on behalf OF the
said corporation, of the terms and condl-
tions in this act contained, and upon failure
taereot then tbs act shall cease to be In
force.
Sec. ID. And belt further enacted, That
the twelfth section # the said act, entitled
An act TO incorporate the subscribers to
the Bank of the u Ssates," passed the
twenty, fifth dav oil Eel nary, one thousand
seven hundred and L.aety one, which
pledges the faith of the United States, that
10 other bank shall be established by any
foture law Of the United States during the
continuance of the said corporation, toge-
Their with all such parts of the aa'd act,
as are repugnsn, to the provisions OF this
act, be, and the same arc hereby repeal-
ed.