Alexandria gazette, commercial and political. [volume] (Alexandria [Va.]) 1812-1817, 1813-11-04

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| ers under whose administration 1t shall
happen, shall be liable for such excess
in their natural and private canacities,
and an action or actions Of debt may
be brought against. them or any of them,
their heirs, executors or administrators,
in any court Of record withio the United
States, by any creditor or creditors OF
said association, and may be prosecuted
to Judgment and execution; any condi-
ton, covenant or agreement to the con-
,rary Notwithstanding, but this shall not
be construed to exempt the said body
polite, o. lands, tenements, goods or
chattIes of the same from being also lie
able for, and chargeable with said excess
provided that such Of the said Di-
rectors, who may have been absent
when said excess was contracted or
created, or who may have dissented
from the resolution or act whereby
the same was 50 contracted or crea-
ted, may respectively exenerate them
! selves, from being so hattie, by forth-
| with giving notice of the fact, and
OF their absence or dissent to the stock.
holders at a general meeting, which he
or they shall have power to call tor that
purpose, and IN case the directors by
! whose act such excess shall be OCCASION
ed, shall no, have property to pay the a.
mount oi such excess then each and eve.
! nv stockhoider sf,all be liable in their
private capacities, for their deficiencies
in proportion to their respective shares
! in the said Bank
ARTICLE 8. The Board OF DIrec.
tors OF laid Bank by ma ority OF votes
| shall MAKE bye LAYS, determine the man
ner of doing business, and the rules and
forms TO be pursued, and dispose OF the
| money asd credit of the bank, in such
manner as shall seem to then, best CAL
! culatcd TO promote the interest OF the
stock holders.
Article 7. A majority Of the whole
number of Directors shall be necessary
! in the choice of President, Cashier. &
other officers ofthe Bank but four mem.
bers with The President, may constitute
| q board for transactiBg the ordinary blu.
siness of the Bank.
Article 8. The President and Di-
re-tors for the time being shall! have
powe, 10 appoint such officers and ser.
! wants uadsr ti.en, as may be necessary
FOR executing the business OF the said
company, and TO allow them such COM
pensa.iDn for their services respective
" as shalt seem reasonable, and shall
be c. pab!e OK exercising such other
powers and authorities for the we'll go.
ve;r,ing aad ordering OF the affairs OF
the said company. as shall be described.
fxed aGd determined by the laws, regu.
,atiors and ordinances Of the same.
Article 9. The second election OF
Directors shall t.ke place on the first
Monday 10 January 1915, and an cleo
ton in each year thereafter, on the first
Monday in January, 10 the town of A
lexandris, at such place and under such
regulation. a. the President * Directors
Tor the time being may prescribe.
Article 10. No Director shall be
entitled 10 any emniument unless the
same shah have been allowed by the
stockholders At a general meeting, but
toe Dire tors shall make such cGmpen.
sation 20 the President Ter his extraor-
binary services and attendance at the
Bank as hail appear to them reasonable
Article H. The President shalt give
bond and security tor the faithlni dis
charge Of his duties TO tie satisfaction
of The Directors The Cashier, other eff.
GERS and servants shall take an oath or
affi' ,nat,on and give bond and security
to the satisfaction of the President and |
Directors for the faithful performance
of the dates of their several officers.
Article IL All bills, bonds, notes and
every other contract or engagement on
behalf VI TIE company shall be signed
nv the President and countersigned by
the Cashier. and the funds OF the com
pany stall in 10 case be liable for any
contract o" engagement unless the same
shall be s,gDed and counterstgned as
aforesaid, and the President and Direc.
tors shall not issue any note for small
or sum than one dollar,
Article IS. In case of the death,
disqualification or resignation, OF the
President or any Director, or any Off
Ger or Servant Of the said Association,
the Boaid Of Directors may, at their next
meeting. ell such racancy-And IN Case
Of sickness or necessary absence of the
President, his place may be supplied by
Director 70 be appointed President
pro tempore, by the President, and on
his falling to make such appointment
oy the Directors.
Article IA. A number of Stockhol-
ders not less than forty who together
shall be proprietors of twenty thousand
shares or upwards, shall have power at
any time to call general meeting of the
stockholders, for purposes relative to
the institution, giving at least six weeks
notice in one or more newspapers in the
Tovn If Alexandria ee sburp 81 Win.