Martinsburg gazette. [volume] (Martinsburg, Va. [W. Va.]) 1833-1855, 1834-05-08

1884.
BE ii enacted, by the General AS.
sembly that Isaac S. Lauck, Daniel
Burkhart, Conrad Hogmire, David
Holmes Conrad, John X. Wilson, Will
liam T. Compton, Edmund P. Hun.
ter, John Strother, William Long, A.
dam Young, Alexander Cooper, Tho
mas C.. Smith, Richard McSherry,
Charles ID. Stewart, Ezekiel Showers,
Seamans Garard, Anthony S. Cham
bers, Jacob Poisal, Harrison Waite,
John Mathews, Daniel MoIes, Peter
Hoke, Henry Job and William Faris,
and all and every other person or per-
sons hereafter becoming members of
the Martinsburg Savings Institution
in the manner hereinafter mentioned,
shall be and are hereby created and
made a corporation and body polite
by the name and style of the Martins
burg Savings Institution, and by that
name and style shall have perpetual
succession, and be capable by law, to
hold and dispose of property, to sue
and be sued, plead and be implicated,
answer and defend and be answered
and defended in Courts Of law and equi.
ty, or in any other place whatever,
and to receive and make all deeds,
transfers, contracts, covenants, con-
veyances and grants whatsoever, and
to make, have and use common seal,
and the same to change and renew at
pleasure, and generally to do every
other act or thing necessary to carry
into effect the provisions of this act,
and promote the object and design of
said corporation.
BE 1t further enacted, that there
shall be a meeting of the members of
the said Martinsburg Savings Institu-
ton on such day in the month of May
next, and at such place as any seven
or more persons named in the first
section of this act shall appoint, giving
at least ten days notice in some news
paper printed in the county of Berke-
ley, and on such day in the month of
May, and at such place annually there.
after, as the by. laws of the said insti-
tuition shall provide, for the purpose of
choosing from among the members,
nine directors to manage the affairs of
the said institution, for twelve months
thereafter, and until a new election
shall take place, and the Judges of the
first election shall be elected by the
members present, and the judges of all
future elections shall be appointed and
notice of such elections given in such
manner as the by laws shall provide.
Be IL further enacted, that the d.
rectors for the time being, or a MAORI.
ty Of them, shall have power to elect
a President from their own body, to
appoint all such officers, agents and
servants, as they shall deem necessary
to conduct or execute the business and
affairs of the institution, to fix their
Compensation, and in their discretion
to dismiss them, to provide for the TAX
ing of bonds to the corporation from
all or any OF the officers, agents or
servants, by them so appointed, with
security, conditioned in such form as
they shall prescribe, for the faithful
execution of their several duties, and
to secure the corporation from loss, tc
, regulate the manner of making anC
receiving depostes, the form Of certfi
Gates to be issued to depositors, and the
manner of transferring the same-tc
provide for the investment of the funds
OF the corporation in such manner n.
n they shall deem most safe and benef
$ cial, to provide for the admission o
e members, and furnishing proofof sucl
;. admission,-to provide for paying al
e necessary expenses,-conducting tn,
affairs OF the corporation, and gener
c ally to pass all such bylaws as shall
b. be necessary to the exercise of the salt
powers, and OF the other powers vest
e ed in said corporation by their charter
and the said bylaws, from time tc
t time, to alter and repeal:-Providet
that all such bylaws as shall be made
by the Directors, may be altered OIL
a repealed by majority Of the mem
E bers assembled at any annual meeting
e or general meeting, called in pursu
e ance of any by law, made for tina
;. purpose; and a majority of the mem
n hers may, at any annual or genera
1t meeting, pass such bylaws, which
shall be binding upon the Dlrectors:-
). Provided that such bylaws shall no
t be contrary to the laws of this State
, or of the United States.
f BE 1t further enacted, that said cor
t poration shall be capable of receiving
from any person or persons any de-
post or deposites of money, and thai
all monies so received shall be invest
ed in stocks or other securities, at the
! discretion of the directors, and in the
manner deemed most safe and benefi.
cial:-Provided, always, that such in.
vestment of the funds of the corpora.
ton, shall be in the manner provided
! for, in the bylaws, and that no di.
rector or member shall be liable in his
person or property for any debts, con.
tracts or engagements of the said cor.