Du Buque visitor. [volume] (Dubuque, Lead Mines, Wisconsin Territory) 1836-1837, 1837-01-11

the director or directors so as to COM
lplete the whole number of seven, and
the said directors chosen at such cleo
ton as soon as may be thereafter shall
proceed in like manner to elect one of
their number to be president, and if
any director shall cease to be a stock
holder, his Office shall be considered
vacant and Whenever any vacancy shall
a happen among the directors by DEATH,
4 resignation, removal rotherwise, such
Vacancy shall be filled for the remain
]der OF the year in which the same shall
happen, by such person or persons as
Ithe remainder of the directors for the
time being or majority Of them shall
Iappoint.
/ SEC. S. That in case it shall happen
that an election of directors shall not
be made on any day when pursuant to
this actit ought to have been done, the
said corporation shall not for that cause
be deemed to be dissolved, but it shall
and may be lawful on any other day
10 hold and make an election Of direct
ors in such manner as shall have been
regulated by the laws and ordinances
of said corporation.
Sec. 6. That the directors for the
time being or a majority Of them shall
havcpowcr to make and prescribe such
byelaws, rules and regulations as to
them shall appear ncedful and proper
touching the arrangement and dispos-
Iition of the stock, property, estate and
effects of the said corporation, the du-
ties and conduct of officers, clerks and
servants employed therein, the elect
ion of the directors and all such other
matters as appertain to the business Of
the bank, and shall also have power
to appoint SO many officers, clerks, and
servants for carrying on the said bust
ness, and with such salaries and allow
ances as to them shall seem meet; pro-
vidcd that such byc-laws, rules and
regulations be not rcpugnant to the
constitution or laws Of the u. States
or the laws of this territory; and it
shall be the duty of the president and
cashier to furnish to the legislative as
sembly, a statement under oath, when
ever thereto required by the leglsla-
tive assembly Of this territory, OF all
bf1ts In circulation, the amount Of debts
due from directors, the amount due from
stockholders, the amount Of debts due
from all other persons or corporations
not however naming them, the amount
Of specie in bank, the amount of all
other bills Of other Banks, the amount
oftheir deposits in other banks, the a
the amount Of their real estate and 9TH
or property not therein specified, the
amount Of capital actually paid in, and
shall contain true exhibit of the real
state of said bank.
Sec. 7. That the total amount of
debts which the said corporation shall
at any time owe either by bond, bill,
note or other contract over and above
the specie actually deposited the bank
shall not excec three times the sum of
J t c CAPT al stock subscrbeda and actually
{ paid into said bank, and in case Of
such excess the directors under whose
administration it shall happen shall be
liable for the same in their separate
and private capacity, but this shall not
be construed to exempt the said cor
poration or any estate real or personal
, which they may hold as a body cor
porate from being also liable for and
. chargeable with such excess, but such
directors who may have been absent
when the said excess was contracted
or who may have dissentcd from the
resolution or act whereby the. same
was contracted shall not be SO liable.
Sec. g. That the lands, tcncments,
: hcrcditamcnts which it shall be lawful
: for the said corporation to hold shall
be only such as shall be required for
: its accommodation in relation TO the
: convenient transaction Of It's business
, or such as shall have been bona fide
: conveyed to it in satisfaction Of debts
: previously contracted in the, course
: of its dealings, or purchased at sale:
: upon judgments which shall have beer
: obtained for said debts; and lurtheI
0 said corporation shall not directly moi
d indirectly deal or trade in buying Of
4 selling any goods, wares or merchan
# die, unless in selling the same wher
It truly pledged by way Of security 70
I, debts due The said corporation, or pCr
: chasing the same at sales on judgment
II which shall have been obtained for an,
It debts previously contracted in tb'
0 course Of its dealings and afterward
Il selling the same. $500
n SEC. 9. That the bills obligatory s
a of credit under. the seal of said corpor