The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1817-06-25
LAWS.
Dissrics Of Columbia Bark Lasv.
coScLupEp. -

the bank shall, III case, buy and sell the fun@
ded debt Of the United States, OF OF any state
or be owners Of any ships or vessets, or dir
rectly or indirectly be concerned in trade, or
the importation, exportation, purchase, OF
sale OF any goods, wares, or rnerehandixe
whatever, except bills oil exchanges, or bnl-k
lion, and such ships, vessels, goods, wsres or
merchancize, as shall be truly pledged 10
them by way OF security, for debts due, owirg
or growing due TO The said bapts a. puschas-S,
sed by il 10 secure such dcSts. Protiafd nev.
e,triess, That tho said bank may sell aud dis.
pose OF either the whole or any part OF The fan
ded debt OF the United States, which il now
holds.
Sec. Is. Ind Be if further enacted, That
the said bank shall not purchase OF hold lands,
teneinonts, or other real estate, other than
what may be necessary for the convenient
transaction Of lis business, unless such lands,
tcnements, and real estates shall have been
bona EIDE mortgaged 10 the bank by way OF Sc
car,y, or conveyed to it in satisfaction OF
debts previously contracted in the course OF
dealings or purchased to secure debts con-
traetej with, or due TO tho bank and In every.
instance in which the bank may become the
owners or claimants of lands, tennmcnts, or
real estate, the presidcn, and directors are,
empowered to sell or dispose OF the same,
in such manner as they may deem beneficial
for the said bank.
Sec. 8. Ind De /, further enacted, That If
any vacancies shalt, at any time, happen a..
mong The directors, by death, resignation, OF
otherwise, the rest OF the directots, for the
time being, shall elect director 10 fill the
vacancy.
Sec. II. Ind be IL further enacted, That
any number OF stockholders, hot less than
twenty who shall be proprietorso Of not lcss,bsn
four thousand shares, may, for any purposes
relative TO the institution, at any time, apply
to tho pre- esden, and directors TO call gene
raj meeting Of The stockholders; and if by
them refused, the said number Of stockho!d-
ers, proprietors Of no, less than the number
Of shares aforesaid, shall have power 10 call a
general meeting OF the stockholders, si,ing
AZ leas, sixty days notice in two or more Of
tho public nowspuprrs of tho Distric, speed
flying in such notice the object Of objects OF
such calls.
Sec is ind Be il further enacted, That in
case il sbood at any time happen ,hs, ap c.
lection OF directors. should at any time
be made on any day when, pursuant 10 this
ast, j, ought TO have been made, the said cor
be dissolved, but il shall be lawful on any o.
,hes day TO hold aud mike an election OF di-
rcctors, at meeting to be called IN such
manner as shall be prescribed by the laws
and ordinances of said corporation.
Sec. 10 .ind be ia further enacted, That It
shall be the duly of the prcsiden, and Direct
crs OF the said bank 10 exhibit, on the trst
Mondsy in January in each year, or oitencr
if required, statement OF the debts, CREDITS,
and funds Of the bark, 10 the Secretary OF the
Treasury Of tire United States, whose duty II
shall also be To state 10 Congress, ifDmediale-
iy thereafter, his opinion as TO the solicny Of
said bank, and the causes OF danger, It any,
arising from, The ihproper manage mcnsthete-
oi.
Sec. 90. .fnd be IL Jarfhey enacted, That Ii
the said bank shall at any time fail or refuse
to pay on demand, any bill, note, or obligs-
tion issued by said bank, in lawful currency OF
the United States, If rcqaired, or shall neg
lee, or refuse 10 pay on demand in like cur
rency, IL required any moneys received by
said bank on deposit, to ihe person or pcrsons
entitled to d-msnd & receive such deposit as a.
forcssid, shall respectively be entitled TO re-
ceive & recover interest or the same 1.-THE rate
Of ten per cen,um per annurn, from the time
Of demand until tho same be fully paid and
satisfied. .4nd f1rrer, !, shall &c lawfu! for
Congress forthwith TO revoke, and declare
this charter null and void. ~
Sec. 81. hnd6 it. further enacted, That
unless the president and directors, for the
time being, OF the said bank, on the paR Of
the stockholders. file their declafatioh In
writing in the Office Of The Secretary Of Che
Treasury, wr rhin.thir,y days from the time sf
passing this act, asserting 10 and accepting
the charter granted by this act, upon The
terms and conditions herein expressed, this
act shall have no force or effect and the char
ter hereby granted shall be void.
Sec. %. md be n further enacted, That
II the whole amount OF the capital aforesaid
Of said bank, shall not have been paid In, on
or before the firs day Of January, ia the year
one shoussnd eight hundred and nineteen,
tbcn tile capital s,oci shall be limited 10 the