Liberty advocate. [volume] (Liberty, Miss.) 1835-1866, 1838-03-17

or Inc county Of Tppah, Edmond }. Bat
:, II Rowcrs. and John w. Thompson;
or the county of Tishemingo, Ihohas
Pals Keys and John Rives, as managers
,nder the same rules and regulations as
are prescribed for the subscription Of inc
stock of said bank, in the other coun,les
Of this State by the act to which 'his Is u
80
Approved, May IS, 1897.
THE MISSISSIPPI UNION BANK
An Act supplementary to an Aef to '"coTpo.
rate the subscribers to the MtSsa'StPP'
Union Bank. -
SECT. /. Be it enactrd BY the Leg'sid-
tuye of the State Of Mississippi, That as
soon as the books Of subscription Tor STOCK
in the said Mississippi Union Bank are
opened, the governor OF this State IS mere
by authorized and required TO subscribe
for, in behalf of this State, fifty thousand
shares of the stock of the original capl'ai
of the said bank; the same to be Palu ou'
of the proceeds OF the State bonds, 10 NC
executed to the said bank as already pro-
yided for in the said charter; and that inc
dividends and profits which may accrue
and be declared by the bank on the sald
stock subscribed for in behalf Of the State,
shall be held by the said bank subject 10
the control of the State Legislature Tor
the purposes ofnternal improvement, ana
the promotion Of education.
SECT. 2. Be it further enacted, That
three commissioners be, and they are here
by appointed within each county in this
State, viz: in the county of Adams, VIM.
B. Howell, Henry L. Conner, and James
BisIand; in the county of Amitc, David
Lea, Solomon Wealhersby, and David
Pemble; Che names Of the other counties
are here omitted) whose duty it shall be
to ascertain and appraise the property OF
those who wish to become stockholders in
the said Union Bank, as well as those whc
wish to obtain loans on mortgage, as pro
vided for in the charter oil the said bank
and two Of whom shall be authorized tc
act; and in the event of death, inability
or refusal to act on the part Of any Of the
said commissioners, it shall be the duty o
the managers or directors Of the molhe
bank to fill any such vacancy by the ap
pointment Of others, on receiving informa
ton thereof from either Of the other com
missioners, or from the President OF the
board Of police Of said county, and that the
provisions Of the thirteenth section of the
charter of the Mississippi Union Bank, SC
far as relates to appointing appraisers for
each bank district, be, and the same are
hereby repealed
Sec. 3. Be it further enacted, That the
books of subscription for stock TO the mo-
Their bank shall be opened at the seat oil
government, on giving at least thirty days
previous notice in at least three newspa-
pers published in this State, and shall be
kept open during the space Of six months
by the managers appointed 10 open them,
and the managers shall deposite all the
titles, papers, notes and other documents
in the said mother bank, duly authenica-
ted and recorded as provided for in the
charter; and the books for subscription for
stock TO the several branches shall be kept
open for and during the space oCone hun
dred and twenty days, by the managers
appointed to open them in the several coun-
ties Of this State, by giving thirty days
previous notice Of the same by advertise
ment posted up at at least three Of the
most public places in each Of said counties,
and at tho expiration Of said time they
shall transmit to the managers ofthe books
of subscription for the mother bank, the
books of subscription of the stock so taken
and secured, together with all the titles
and other documents duly authenticated
and recorded: Provided, That said books
Of subscription shall be opened in each
county of this State on the same day.
SIC. 4. Be 1t further enacted, That the
commissioners appointed to apprase the
property of those who wish to become
stockholders and obtain loans on mort
gage, as we'll as the managers of the sub
scription books for the said bank. shall
severally take and subscribe an oath faith
fully TO discharge their duty, before any
person authorized TO administer an oath in
their respective counties.
SEC 5. Be il further enacted, That the
managers ofthe mother bank shall furnish
the managers of the subscription books in
the several counties the form Of the mort
cages and notes, with all other necessary
forms for taking stock aud securing titles
to property mortgaged.
SEC. 6. Be il further enacted, That
the subscribers to the stock in the said
Union Bank, or their legal representa-
tivcs, may at any time transfer their res
pective shares to any citizen of this State.
with the appreciation of the directory of
the mother bank, and that no person not
citizen of this State, shall ever own any
stock in this bank
SEC. 7. Belt further enacted, That the
'aid bank shall never issue its own bills /
1t any one time to an amount exceeding
wico the amount Of its capital actually
Iaid in, and that the bills of this bank shall .
M oirpoL hxy 1ha Dra.;d.,o, on1 c...,o. :.