The Rhode-Island Republican. [volume] (Newport, R.I.) 1809-1841, 1819-09-22

"Wednesday Of January, April, July, ari
October and one weeks notice before
the time of Withdrawing must be giveE
to the Treasurer in writing, and no sum
less than ten dollars of the sapital Of any
depositor shall he Withdrawn unless TIE,
whole sum deposited by such person
shall be less than that amount. All mon
les received by the Treasurer shall be
either specie or bills Of Newport Banks
and all payments made by him shall Le
made il the same manner.
18th. Duplicate hoax. All deposits
shall be entered in the books Of the cor
poration, and duplicate shall be given
to each depositor in which the sum paid
by him shall be entered, and Which shall
lie his voucher and the evidence OF his
property in said institution.
10th. In case Of dea.h. Upon the
death of any depositor the monies stanti-
ing in the name, and to the credit of suca
depositor shall be paid to his legaee or
heir at law or legal representative con-
formally to the laws Of tins State.
18th. No eploluments. The directors
Of this Institution shall never receive any
emolument therelrom hut may allow rea- Z
sonabe compensation to the Treasurer
or such other officers as may lie found
necessary.
18th. Signature ef ,1les. On maxi
ing the first deposit the depositor shall be
required to subscribe and thereby signi-
iy his assent to The regulations and by-
laws of the Institution.
18th. IHe directors tosver 10 alter -
H1Sus. Tie directors may at any meet
ing at which seven at least of them shall
be present, and after due notice OF SUCH
intention, at previous meeting make
such further regulations or by laws CT
alterations Of those already made as they
may deem necessary; provided that Il.
same may be re-examined ard disallow.
ed by the corporation at their next meet
ing and all such regulations and by
laws and alterations shall be equally bind
ing on all depositors as those by them
subscribed, after the same shall have been
duly made known.
goth. Lrst,.uticn hosr dissolved. The
directors may Ly vote Of a major part Of
the whole number at any time, divide
tie whole of the property among the dc.
positors in proportion .o their respective
interests therein upon giving three months
notice thereof and shall also be at liberty
to refuse to receive any deposit at their
pleasure.
2lst. Directors free .frOM reston.:-
6Ny. The directors undertaking these
duties without the expectation OF emolu.
ment and pledging themselves to an up
right ahd conscientious discharge of them
arc not to be held responsible for any
losses which may happen from whatever
cause except their wiIiul corrupt miscon-
duct in which case those directors only
who were present ard guilty Of such mis-
conduct, shall be answerable for the same.
22d. The directors have proposed the
payment Of FIVE per cent as the stated In
terest merely as an experiment, and have
provided by article l2th that tie depcsi.
tors shall receive by way of extra divi.
dends all the surplus profits above the
FIVE per cent annually divided they more.
over pledge themselves that the annual
rate of interest shall be raised as soon ard
as high as experience shall prove to be
practicable.
25d. Any depcsitor may designate at
ths. time Of making his deposi, the rcr-
iod for which he is desircus the same
shall remain in this institution and the
person for whose benefit the same is
made and such depositor and his legal
representative shall be bound by sucl,
condition by him voluntarily annexed to
his deposit; and in case Of the dissolu-
ton of tho corporation the same shalf,e.
paid to such person as shall lie legally