Southern telegraph., 1838-10-24

notes which may be issued by the incorpo-
ration, to recommend measures for the in
teresi of the bank, to perform all such func-
tions and duties as properly belong to his
place as president, and such as may be as
signed him as head Of the corporation, by
the board of directors; and he shall be cnti-
tied to such compensation as they shall by
resolution determine. A Seal, with suit
able device, for the use of the bank, shall
be adopted The president shall sign, in
behalf of this corporation, all lconyeyances or
other necessary instruments, and cause the
seal to be fixed thereto.
RULE XIII.
AT the written request Of three directors,
stating their object, it shall be the du-
ty Of the president to call a general meeting
of the stockholders, at any time they may
deem proper, giving twenty days notice of
the time, place, and object of such meeting,
in oneof the public newspapers printed in
the city ofJackson.
RULE XIV.
No notes of the bank shall be struck or
signed, or bank paper made or purchased,
except by the special order of the board -
The notes shall be recorded before they arc
issued. No bank notes shall be cancelled,
except by committee appointed by tho
board of directors for that purpose, whose
duty it shall be to cause the amount so can
celled to bc recorded, specifying the partic-
ulars, as to date, number and denomination,
and sign the said record with their names,
which record shall be laid before the board
at their first meeting thereafter. The notes,
when compared with the record and can
celled, may be destroyed in the presence of
at least nine membersIofthe board.
RULE XIV.
No director, without special authority,
shall be permitted to inspect the cash ac-
count of any person with this bank; and no
director permitted to divulge any of the con-
fidential measures of the bank: PrOrided,
They are not in opposition to this charter;
and, as the interest of the bank requires tho
free and unreserved interchange of opinion
Of the directors, more particularly in the op-
Grafton of discount, no member is permitted
to reveal the opinion or vote given on any
matters relative thereto.
Of the rules and regulations of the Board of
Directors in the transaction of their or
binary business.
RULE XVI.
On each application for discount every d.
rector present shall be held TO give his OPT
Mon for or against the same. No discount
shall be made on personal security, without
two responsible names-a partnership shall
be considered as one name only; and no dis
count shall be made when one-fourth of the
directors present shall object thereto. All
notes and bills discounted shall be entered
in a book called the "Credit Book" in such
manner as to show to the board at one view,
on each discount day, the amount which any
person has obtained from the bank as dis
counter, or which he is indebted thereto as
payer or endorser.
RULE XVII.
The Exchange Committee shall be COM
posed of the president and two members, to
be elected quarterly by ballot. Two MEM
bers shall form quorum. 1t shall be the
duty Of the committee to meet every day.
They shall have power to determine the de-
scnption of exchange that shall be purchas-
ed, and to regulate the rates at which it
shall be taken. They shall also be Judges
of the securities to be required, and no bill
shall be purchased when one member shall
object to it on the score of security. A book
containing detailed statement of the opera
tions of the committee shall be kept, and the
summary entered in the minute book.
RULE XVIII.
The proceedings Of the board Of directors,
when conducting business, as deliberative
body, shall be governed by the following
ruless
l. When the president takes the chair,
the members shall take their seats.
2. The minutes of the preceding meeting
shall be read before the board proceed to
any other business. No debate shall be ad-
mittedor question taken at such reading, ex-
cept as to errors and inaccuracies; the state
of the bank shall then be read and the dis.
count settled.
3. The president shall be the Judge Of
order, and his decisions shall be immediate.
ly submitted to, unless two members re-
quire an appeal to the board. He shal
name all committees, unless herein other
wise provided, or unless the board shoulC
otherwise determine.
4. Every member presenting paper t.
: the chair shall first state its general purport
and every member wlo shall make motor
to offer a resolution, or speak ON any sub
iect under discussion, shall rise and address
the president.
Q 5. Nodebate shall be entered into on ant
r motion previous to its having been second
+ ed, and until it shall have been stated from
the chair; and alTmotons shall, if requisite,
+ by the president orb by two members, be re
f duced to writing, and no member shall spea
more than twice on any one question, with
out leave of the board.
d 6. While resolution is under discussion
}, no motion shall be made except to ament
h divide, commit, or postpone il, but it shall b
Il Il - y