Litchfield enquirer., 1832-07-19
Laws OF CONNECTICUT,
PASSED NAY SESSION, 1889.
An -Act,o incorpOra.e The Windham Bank.

into shares Of 100 dollars each and all those who saI
become subscribers said bank, their successors anc
asspns shall be- aud are hereby constituent cofpo
ration by the name Of The President, Directors and
Company Of the Windham Bank - aud by that name
shall be capable TO have, purchase and enjoy all kinds
Of estate, real and personal and the same to devise
alien and dispose of To sue and be sued I'D all courts
I 10 make use and have, common seal, and the same
TO alter and renew at pleasures and to establish and
put in execution such bylaws, ordinances aud regu-
atiOns, may be deemed expedent for the well or
dering Of the Of said corporation, not con-
ry % this charter, the laws Of this State Of the
UMiied States; and generally TO do and execute all
such matters and things to them shall appeTtain,
subject TO the regulations hereinafter prescribed.
Sec. 2. The capital stock of said bank shall consist
ofOne hundred thousand dollars; each stockhoder IN
amy meeting shall be entitled to as many voics as nc
has shares in the bank, and may vote by himself or
agent duly appointed the stock or shares shall be as
sgnable according TO such rules as shall be rescri-
bed by the stockholders Of the bank; but no share or
shares in said bank shall give any stOckhOder a
right after the first election, unless the same
shall have stood in his her name at least two caie-
der months previous the time Of voting; nor shal.
any person be allowed vots by virtue Of any power
OF Attorney at amy election of drectors except at the
one which shall happsn next after The same shall be
given.
Sec. g. The affairs Of the bank shall be under the
government of board Of not more than eleven, nor
less than nine directors who shall be elected on the
first day OF January, annually by majority OF tue
votes given in by the Stockholders at general meet
ing. All elections Of directors shall be 10y ballot ana
cmiy days previous ton Orseaeral meeting
public notice thereof shall be gven by order the i-
rectOrs in newspaper published IN w INDIAN county,
IL any there be, and in such other place or places as
shall be judged expedient by the directors; and the
directors, ut their first meeting after each election,
shall choose Of their numl,er for President none
but stockholders, holding at least five shares in said
bank, shall be eligible directors: not less than two
thirds of the directors shall be resident in Windllam:
nor shalt more than than three foarhs OF the drec-
m office, exclusive Of the President be eligible rs
directors the next succeeding year; but the director
who Is presiden: at any elections may always be elect
ed as director; and in case OF the death or resiSna-
ton Of any director, his place may he supplied by
new chOicc Tor the remainder Of the year, not less
than three directors shall constitute board for the
transaction of business, and director shall he enti-
tied amy enlOlumenis for his attendance the bu-
siness Of the bank, unless the same shall have been
allowed 10y the stockholders at general mceiing ex-
cep the President, who shalt receive such compeDss-
ton for his extraordinary attendance a, the bank
the directors shall judge to I've reasonable Directors
chosen at any lawful meeting, shall continue in Office
until others are chosen in their places. The stock
holders may, by their bylaws provide for an aourn-
Of their annual meeting, and also for convenIng
special meeting for the choice Of directors, or for
my other purpose at their discretion.
Sec. 9TH. The directors for the time being, shall
have power TO appoint such officers, clerks aud serv
ants they shall judge necessary and every CASHIER
treasurer clerk employed in the bank, shall before
entering the duties Of his Office, give bond, with
suretes, the satisfaction Of the direc-
tors, in such they shall ORDER conditioned for
tile faithful performance Of his trust. And said drec-
tors may at any tme call the cashier other officers
80 appointed to account, and require additional bonds
whenever they shall judge il expedieD.
Sec. D. Dividends shall be made, at least once
year, OF much the profits Of the Bank shall APP
pear to the directors TO be expedent; and whenever
thereto required, they shall make known the state OF
the bank, NJ a general meeting Of stockholdcrs
Sec. q. The capital stock Of the bank shall not be
employed otherwise than in the usual course OF bank
Ing business, nor shall there be taken more than at the
rate Of six per cent. per annum for, and upOn, its
loans discounts. The debts Of the corr Grafton,
whether hy bond, bill note, shall not a, any time
exceed fifty per cent. aud abOve the amount Of
it's capital stock actually paid in. The stockholders at
paris MOT exceedag half Of the stock, 10 I've vested
in the funded debt fthe United States.
Sec.7. The bills notes issued by The bank. sign
ed by the president and countersgned by the cashier,
promising the paymem, Of money 10 any person or or,
der bearer shall be obligatory ON the hank and
payable demand, aud shall be negotiable according
20 the Of merchants, and the laws relating 10
inland bills of exchange; and ali negoabie notes dn-
ly executed may be Endorsed 10 the bank ~ me same
manner and on the same principles us TO individuals
and the bank may bring suits !hereo" I" recover Tue
/ money. ,.L -,
Sec g. The bank shalt he open ut alI times for sub
scrtions the Of one hundred dollars i"r each
share from the school fund Of this State, or from me
funds Of any college, ecclesiastical sociey' savings
cieiy, corporation for charitable purposes wnln
this State, in the same manner aid sunlect 70 We
same restrictions are may he provided oy law
and whenever the State shall have subscribed ana
paid for twenty shares, they shall have The right 10 ap
point director and for each additional number
Of one hundred shares, subscribed and paid TOR az
| aforesaid: Prorided, that the stock subscribed and
paid for, aud in this section allowed, shall mol ne
| transferable, bat may lie withdrawn ON giving SIN
months notice. and prorided that the amount Of said
suhscriplion shall not exceed Eve hundred shares.
Sec 9. Subscriptions towards constituting the cal?
ital stock 81 said bank shall be opened az Wndnnu
by and under the direction aud sapcrinIendence 9
Charles p. Huntington. john Baldwin, Ahaer Hen
dee. Jesse Spaford, and Chimney y. Cieaseand
Essrs. any three of,hem. who are hereby appoint
ed commissioners for that purpose, and shall meet
said Windham on the fret Tuesday Ol August next