Piney Woods planter and Amite union literary reflector. [volume] (Liberty, Miss.) 1838-1838, 1838-03-31
THE MISSISSIPPI UNION BANK.

An Act supplementary to an Act 10 incor-
porate Tie subscribers TO the Mississippi
Union Bank.
SECT. |. Be IL enacted byhe Legislature
ofhe State Of mississippi, That as soon
as the books of subscription for stock
in the said Mississippi Union Bank are
opened, the governor of this State is
hereby authorized and required to sub
scribe for, in behalf Of this State, fifty
thousand shares of the stock of the orr
ginal capital ofthe said bank; the same
to be paid out of the proceeds Of the
State bonds, to be executed to the said
bank as already provided for in the
said charter; and that the dividends
and profits which may accrue and be
declared by the bank on the said stock
subscribed for in behalf Of the State,
shall be held by the said bank subject
to the control Of the State Legislature
for the purposes of internal improve
ment, and the promotion ofcducation.
SECT. 2. Be IL further enacted, That
three commissioners be, and they are
hereby appointed within each county
in this State, viz: in the county OF
Amte, David Lea. Solomon Weathcrs-
by, and David Pemble;O he 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 who wish
to obtain loans on mortgage, as provi-
ded for in the charter Of the said bank
and two of whom shall be authorized
to act; and in the event of death, ina
bility, or refusal to act on the part OF
any of the said commissioners, it shall
be the duty of the managers or direc-
tors of the mother bank to fill any
such vacancy by the appointment of
others, on receiving information there
Of from either of the other commission
ers, 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. so far as relates to appointing
for each bank district, be,
and the same are hereb. repealed.
SEC. 3. Belt further enacted That the
books of subscription for stock to the
mother bank shall be opened at the
seat of government, on giving al least
thirty days previous notice ifl-=sissss-ia
three newspapers published in this
State, and shall be kept open during
The space of six months by the mana
gers appointed to open them, and the
shall deposite all the titles,
papers, notes and other documents in
Inc said mother bank, duly authentica-
ed and recorded as provided for in the
and the books for subscription
for stock to the several branches shall
be kept open for and during the space
If one hundred and twenty days, by
he managers appointed to open them
n the several counties of this State, BY
giving thirty days previous notice OF
he same by advertisement posted up
1t least three of the most public places
n each of said counties, and at the ex-
oiration of said time they shall transmit
o the managcrsoft the books ofsubscriP-
ion for the mother bank, the books of
of the stock so taken and
ccured, together with all the titles
ind other documents duly authentica-
ed and recorded; Prortded, That said
BOOKS Of subscription Shall be opened
n each county Of this State on the
amc day.
SEC. 4. Be Il further enacted, That the
commissioners appointed TO appraise
he properly Of those who wish to be-
,omc stockholders, and obtain loans on
mortgage, as we'll as the managers ofI
he subscriptionbooks Iorthc said bank,
hall severalIy take and subscribe an
,ath faithfully to discharge their duty,F
,efore any person authorized to admin
ster an oathin their respective coun-
les. 81 't# VA hs
SEC. 5. Be ~ further enacted, That the
of the mother bank shall
urnish the managers Of the subscrip-
ion books in the several counties the
orm Of the mortgages and notes, with
ii other necessary forms for taking
took and securing titles to property
nortgaged.
SEC. 6. b IL further enacted, That
he subseribersto livestock in the said
Jnion Bank, or their legalrepres entar
ives, may at any time transfer their
shares to any citizen Of this